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Why You Can’t Use Home Equity If You Lose Your Job (Dodd-Frank Rule Explained) #shorts

Continuing jobless claims are at a 3-year high – yet millions of homeowners still assume they can tap into their equity in an emergency. But under Dodd-Frank’s “Ability to Repay” rule, if you lose your job, you can’t qualify for a refinance or HELOC. Watch this before you get blindsided.

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Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate