The problem involves second mortgages, which millions of homeowners took out during the housing bubble. It’s estimated that as much as a quarter of all mortgage debt in the United States is in the form of second mortgages, according to The New York Times.
Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!
It’s no secret that high volume refinancing is dead—at least for now. To some degree, it feels as though we’ve been living in an incredibly protracted refinance cycle (when we weren’t in the death spiral of 2007 – 2011, of course). Read More