The Home ATM Still Open in Q1 2022; Closing Soon

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 b…