HELOC Customer Satisfaction Increases in 2008
In the midst of HELOC line reductions and increasingly strict lending standards, a new study from J.D. Power and Associates comes as a surprise. Apparently, HELOC customer satisfaction is up this year:...
View ArticleThe Best (and Worst) HELOC Lenders Ranked
A new report from J.D. Power and Associates ranks home equity lenders according to the results of a customer satisfaction survey. As I reported earlier this week, overall customer satisfaction has...
View ArticleShared Equity Loans
A new loan product called a “shared equity agreement” allows borrowers to take out money and pay nothing back until they sell their property. Sound too good to be true? That’s because it is. Here’s the...
View ArticleWells Fargo HELOC Advertisements
In the midst of all the HELOC freeze turmoil, most major lenders continue to advertise. Just today I received an email advertising home equity lines of credit from Wells Fargo. They say: “Rates are at...
View ArticleQ: What is the Difference Between Home Equity Loans and Home Equity Lines of...
Homeowners have two major home equity borrowing options: the home equity loan and the home equity line of credit (HELOC). Both options allow homeowners to take out a loan based on the existing equity...
View ArticleIs Now a Better Time To Take Out a Home Equity Loan?
In past years, I’ve argued that a home equity line of credit is generally a smarter choice than a home equity loan. Lines of credit allow borrowers to withdraw money only when they need it and pay...
View ArticleHELOC Rates Hit Record Lows
Recent rate cuts have made it possible for homeowners to take out a HELOC at record low rates. For those who can qualify, it’s extremely tempting to take out a home equity line of credit. However,...
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Bad Credit Card Terms Make Home Equity Loans More Attractive
As banks are hit hard by the the financial crisis, they become more stingy with their credit card offers. In many cases, they’re cutting the lines of existing customers and increasing their rates. The...
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New Record in Home Equity Loan Delinquencies
According to recent statistics, home equity loan delinquencies have skyrocketed to a record number. Bloomberg reports: “Late payments on home-equity loans rose to a record in 2008’s fourth quarter as...
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Florida Legislator Condemns Banks that Deny HELOCs, Hoard Money
Florida’s new Senate President is speaking out against banks that hoard federal bailout money while simultaneously reducing customer’s HELOC lines. A recent release from his office explains: “…Mike...
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