Profile picture for Bitter Renter Ron

Lenders Rethink Home-Equity Loans

Lenders Rethink
Home-Equity Loans

 

As Delinquencies Rise, Some Companies Are Walking Away
Instead of Foreclosing, While Others Get Stingy With Borrowers


By RUTH SIMON
January 16, 2008; Page D1

Rising delinquencies and falling home prices are putting home-equity lenders and borrowers in a tightening bind.

As home values continue to sink, mortgage companies are increasingly walking away from delinquent home-equity loans rather than pushing borrowers into foreclosure. At the same time, some lenders, in an effort to protect against future losses, are looking at scaling back home-equity lines of credit held by certain borrowers who are still making payments.

  • January 16 2008 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (2)

Profile picture for Bette Defarm
Just when I think nothing will ever shock me again, something like this gets posted....Heloc-ed up to your eyeballs? No problem, give us ten cents on the dollar or we'll see you when you sell. Unbelievable.
  • January 16 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Okay I take it back.  Everyone should heloc to the max and live it up. 

 

Escalades for every man women and child!

  • January 16 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.