I am a life time renter, so I will defer to you gentlemen on the issue of home mortgages.
The article does say he started refinancing with the 1975 house - 15 times in 20 years.
USA Home prices increased 12X times in the last 40 years.
I was thinking he extracted inflated value, but stayed close to the same inflation-adjusted monthly payment, because of the interest rate decline.
Later today, I will run some numbers through a mortgage calculator to see if anything interesting pops up.
Ok, I will wait for your reply. The other thing is that it doesn’t specifically report how much cash was paid out during these refinances and equity loans. Total cash would be a nice calculation. The other thing would be how much did all of this refinancing cost and how much was paid out to the brokers. Also, how much rubberstamping and fake appraisals were going on?