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Author Topic: Home Equity Loan Defaults Soar  (Read 219 times)
langman57
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« on: February 05, 2008, 04:00:50 PM »
In Fortune Magazine today...

Home equity loan defaults soar -
As credit woes seep into prime home equity lending, a spigot of ready cash for some homeowners is turned off.

NEW YORK (Fortune) -- One of the last sources of ready cash for homeowners looking to get money from their house appears to be shutting down and the results aren't likely to be pretty for the economy.

http://money.cnn.com/2008/02/01/news/companies/Boyd_HomeEquity.fortune/index.htm?postversion=2008020405
« Last Edit: February 05, 2008, 04:05:19 PM by langman57 » Logged
davidslane
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« Reply #1 on: February 05, 2008, 04:57:42 PM »
Read last Friday's free article by John Mauldin to see the effect of Mortgage Equity Withdrawals (MEWs) on the US GDP.

You take away the MEWs and recession here we come!
http://www.investorsinsight.com/thoughts_va.aspx?EditionID=648
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jjj000
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« Reply #2 on: February 05, 2008, 05:16:12 PM »

holy crap.
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Croaker
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« Reply #3 on: February 05, 2008, 09:19:39 PM »
And we thought the Government reports everything "Fair and Balanced". LOL
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