mortgage equity withdrawal (MEW)


Withdrawal of home equity as collateral to obtain cash to either pay down their debt or spend on additional goods. This occurs when home values have risen above the mortgage debt value, and is considered a risky move due to the fact that they now have more debt than there is value of the home.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
mortgage debt mortgage excess servicing