Mortgage Equity Withdrawal is a Cultural Pathology
Filed Under bizbuz | Posted on January 31, 2009
Mortgage Equity Withdrawal or MEW is the process of obtaining cash through refinancing residential real estate using the accumulated equity as collateral for the loan. This is a cultural pathology because it is not sustainable. Many people became addicted to using their houses as an ATM machine, and when prices fell, these people lost their [...]
