40% of underwater borrowers took cash out of homes

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DAILY REAL ESTATE NEWS

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June 9, 2011

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40% of underwater borrowers took cash out of homes


By INMAN NEWS

Homeowners with home equity loans are more than twice as likely to be "underwater" as those who didn't take cash out of their homes, according to statistics compiled by real estate and loan data aggregator CoreLogic.

CoreLogic estimates that at the end of March, 22.7 percent...

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