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FHA moves to limit cash-out refinances

Aug 01, 2019By

In the last several years, an increasing number of borrowers with loans backed by the Federal Housing Administration have been refinancing their mortgages to extract cash – a trend some have called concerning and risky. Now, the Department of Housing and Urban Development is taking steps to curb the prevalence of cash-out refinances, announcing Thursday that it’s lowering loan-to-value requirements.

3d rendering of a row of luxury townhouses along a street

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