Category Archives: Home Equity

The Home Equity Debt Trap

From the New York Times: “Live Richly.” The advertising campaign, which cost some $1 billion from 2001 to 2006, urged people to lighten up about money and helped persuade hundreds of thousands of Citi customers to take out home equity … Continue reading

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What Happened To Home Ownership?

From the newsobserver: What happened? Homeownership isn’t revered nowadays There were two letters in Sunday’s Work&Money section asking about private mortgage insurance and foreclosures. I have a couple of simple answers to very complicated questions. The first question was: Why … Continue reading

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Own To Rent

Dean Baker writes: The plan: Gives homeowners facing foreclosure the option of renting their home for as long as they want at the fair market rate. The proposal does not bail out in any way lenders who made predatory mortgages … Continue reading

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Will Equity Loans Be Next?

The New York Times reports on the next credit crisis — equity loans. Over the past years, home owners borrowed a lot of money confident that rising home values would keep them OK. Wrong. Vikas Bajaj writes: Now the bill … Continue reading

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Dropping Home Equity Lines Distress Thousands

The Los Angeles Times reports about Chase Home Lending. It is a unit of banking giant JPMorgan Chase & Co.. It is one of the country’s largest home equity lenders. Chase starts new guidlines next week to restrict who can … Continue reading

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Want To Borrow Against Your Credit Line?

The Los Angeles Times reports Feb. 1 that thousands of homeowners are finding they have no equity left in their homes. Their home equity lines of credit are no help. Countrywide Financial Corp. sent 122,000 letters to customers last week … Continue reading

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