The Home ATM Open in Q4 2021; Closing in 2022
aka Mortgage Equity Withdrawal (MEW)
During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.
Note: Very few homeowners have negative equity now - unlike during the housing …
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