For consumers that are thinking about buying a new home, experts are recommending getting an equity loan for home improvements instead at this time. This is due to the fact that the housing market is going through an extreme crisis and although property prices are much lower, creating a better buyers market, many are finding […]
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Bank of America Announces Bigger Losses than Expected Where Home Equity Loans are Concerned
Posted on May 24th, 2008 by Bright Light
Despite the projections for a 2% loss factor with their Home Equity Loan portfolio, Bank of America announced that the loss percentages could be considerably higher than expected. The recent housing crunch has been responsible for numerous losses in the mortgage industry, and the home equity loan market was hit equally as hard.Sometimes, the scenario […]
Home Equity Loan Losses Higher Than Expected
Posted on May 15th, 2008 by Bright Light
Although the Bank of America had stated that their losses for their home equity loan portfolio would be in the 2% range, a new statement from the company indicated that the number might be quite a bit higher. All areas of the mortgage industry seem to have been affected by the housing crunch and the […]
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