Equity Loans as Next Round in Credit Crisis

Little by little, millions of Americans surrendered equity in their homes in recent years. Lulled by good times, they borrowed — sometimes heavily — against the roofs over their heads. Now the bill is coming due. As the housing market spirals downward, home equity loans, which turn home sweet home into cash sweet cash, are becoming the next flash point in the mortgage crisis.

For full article go to: http://www.nytimes.com/2008/03/27/business/27loan.html?ex=1364270400&en=ba62e68609df576b&ei=5124&partner=permalink&exprod=permalink

Leave a Comment

Your email address will not be published. Required fields are marked *