According to the findings of a Harris Poll survey, 2008 will be a bad year for those who rely on originations of cash-out refinancings or home equity lines of credit for business. Americans have become weary of using their home as equity to finance loans, Harris Interactive said. Only 4% said they plan to refinance their mortgage in 2008, while only 2% said they would take out a HELOC. If any group were more likely than others to refi this year, it would be the Generation Xers and the baby boomers, which gave a 6% positive response to the refinance question. When asked which issue will affect them personally, 70% said they were concerned about Americans who default on their mortgages and 61% said they were concerned about companies that lose money as a result of defaulting mortgages. The survey was conducted online between Dec. 4 and Dec. 12, with 2,335 adults participating.

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