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mikejuha
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NY Fed President Wants Consumers to Tap Home Equity: Didn’t We Try That Before? - Mish - Global Economic Analysis

As a prudent investor, I eliminated all mortgage debt in January 2009. When I paid off my loan with Bank of America, they initially refused to take my money. It took hours to get BofA to finally accept my payment that day, and it took weeks to finally get them to reconvey title back to me. BofA could not produce the original note I signed, which violated California law. In this context, I will not have another home mortgage. The banksters can all go to Hell!

Commented 2584 days ago

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Beginning of the headline :Here’s one that came my way earlier today although the report was from January: New York Fed Chief Dudley has an Idea — Homeowners Should Tap Into Equity. New York Fed President William Dudley on Tuesday encouraged homeowners to find “prudent” ways to tap into the equity that has built up in the homes, saying the boost in consumption would be a welcome shot-in-the-arm to the economy. The shape of household finances was a hidden strength of the economy, he said. “The good news is that, while th... Read More

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