Banks are making it very difficult for homeowners to get an equity loan unless they have a large amount of equity in the house. Although equity loans were typically seen as quite secure for banks, most don’t want to end up in the second position to recoup if the loan goes under. For consumers seeking […]
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Equity Loans Harder to Get
Posted on April 23rd, 2008 by Bright Light
Lenders are tightening up their restrictions and raising the rates on equity loans, leaving many consumers who need to get an equity loan wondering where to turn. Right now, experts don’t have much hope for these consumers, and the trends are expected to continue. Home equity loan rates are going up significantly and although the […]
Parents Turning to Equity Loans to Help Children
Posted on April 16th, 2008 by Bright Light
Many first time home buyers that have gotten caught up in the housing crisis are turning to their parents for help. For many, this means taking out an equity loan to help their children get through the crisis and save their homes. However, there are some pitfalls with equity loans that experts are concerned about […]
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