Home Equity Loans Become Next Casualty in Credit Crisis

Another side effect of the current U.S. housing crisis is the tightening of the home equity market. As the value of homes continues falling, people have seen the equity in their homes wiped out. In response, lenders are putting more restrictions on home equity loans, often by simply freezing loans and lines of credit, leaving millions of Americans in the lurch. For decades, owning a home has not just been a measure of achievement, it has also been a measure of net worth. When home...Full Story
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