Can You “Walk Away” with a HELOC?

A growing number of homeowners are walking away from their homes, giving their keys and their worries to the bank ... . Homeowners living in a “recourse state” will still be responsible to pay off their home equity line ... into an unsecured loan that you will continue to pay over the next decade or two. You’re paying [more...]

Date: 2009-01-16 03:11:52

Blog posts (8) | Videos (74)
 

Home Prices May Be Nearing Bottom, Bank Equities to Follow?

I remain optimistic that housing is nearing a bottom ... traffic. Add to the fall in prices, the recent sharp reduction in 15 and 30 year mortgage interest rates ... news about loan losses. In my judgment, most banks in the US have been trying to get out ahead [more...]

Date: 2009-01-14 07:24:00

Tips for Mortgage Refinancing and Debt Consolidation

Many people discover that their credit card debt is out of control when they get their monthly bank statement ... your balance over-the-limit fees. It’s time to consider debt consolidation to save your money - credit card balance transfer, home equity loan or mortgage refinancing. One of the best ways to obtain [more...]

Date: 2009-01-08 03:48:15

How an excessively low valuation can leave you feeling really down

Long-time homeowners coming to the end of mortgage deals are being forced to take more expensive loans than they had planned for because of ... is that remortgaging homeowners who mistakenly bank on high levels of equity are instead having to take ... to those with at least 25% equity in their home. Sellers counting on an inflated selling price to help [more...]

Date: 2008-12-21 00:04:09

Beneficial Finance - Mortgage Review

Beneficial Finance, does personal, auto, and mortgage lending as a retail subsidiary of mega-bank parent HSBC Group (NYSE: HBC) ... of Beneficial Finance should be avoided. They are big pushers of credit cards, home equity loans, and debt consolidation mortgages. You can’t expect much better being a subsidiary of HSBC Mortgage [more...]

Date: 2009-01-14 22:05:31

Bretton Woods 2, R.I.P.

A wide range of commentators, including your humble blogger, have worried about the clearly untenable system known as global imbalances, ... central bank is not lending to credit card issuers and banks that provide home equity loans. China buys ... eliminate the need to buy Treasuries to keep the currency low, but would also considerably reduce [more...]

Date: 2008-10-22 08:47:01

BANKS FACE ANOTHER BAD YEAR IN 2009

Rising loan losses, the threat of more regulation and tougher competition adds up to another year of poor profits for banks BY DAVID ELLIS ... a significant deterioration in the health of their credit cards and home equity loan portfolios ... and business loans are starting to surface as well. “There is loan quality deterioration across [more...]

Date: 2008-12-22 15:14:10

Paulson's New Program: Giving People Money They Can't Afford To Spend

The news is as old as the Magna Carta. The consumer is broke. He does not have a dime. He is out of work. He is defaulting on his home equity loan, and the bank has reposed his credit card. It may ... of auto loans, student loans and credit cards." The head of the Treasury is concerned that people [more...]

Date: 2008-11-25 10:50:07

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