Take your cash and run - that's what some homeowners are doing. In cities such as Washington D.C., Los Angeles, Boston, New York - property values have skyrocked with some homeowners have 100% equity in their homes. The median home price is ridiculous. Some homeowners are refinancing their homes as cash out refinance loans and taking the money to live somewhere else where property values are lower. For example, if you have $300,000 equity in your home - you can buy a house out-right somewhere in the south or even in the midwest. Not having a mortgage would be very nice.
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