Seeing advertisements for cash-out refinances

If your home is worth more than your current mortgage value, you can refinance to a new mortgage for the whole value of your home and get the remainder in cash (and then owe it all back of course!)

These shady banks will go to any length to try to keep people from paying off their whole mortgages and keep them in debt forever.

For shame!!! For shame!!!

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empanadas · 31-35, M

Yeah the more I learn about real estate investing, the more I hate banks and realtors. Bunch of vampires

SW-User

@empanadas Yep. But debt is needed to make the world go round because money isn’t really physical, it’s numbers in computers, so we use debt to create more than we actually have.
Key in profit for real estate investing is debt that others pay off, and not you.