Debt Games Could Sink Homeowners

January 19, 2005 | | St. Petersburg Times |
Senior Policy Associate Javier Silva examines the new financial insecurities created as more Americans refinance their homes.
 
That's the short version of a new and disturbing study by Silva called "House of Cards: Refinancing the American Dream." It shows how millions of U.S. households are falling into a vicious cycle of tapping their credit cards and then refinancing their mortgages to extract needed cash from the equity in their homes.