Reply #13: Well, you'd probably need a VERY good credit score... but "yes".

[Frodo]

Cash out refi loans don't usually go up to 100% (and when they do, you pay a higher rate and need an excellent dreadit score).

But yes, you can do that. AND yes, that's where a large part of the spending is coming from. There's one couple we know who have refinanced five times over the last few years. Sometimes to lower the payment, but almost always to take out more equity. They both had debts after college, so it was mostly a good idea to put their debts at such a low rate. But some of it had to be new spending.

I guess it's a good thing everyone in the area had their home values go up so much over the last four years.