Archive | March, 2008

What to Do if You’re Hit by the HELOC Freeze

As discussed in an earlier post, many HELOC customers have received lender letters notifying them that their home equity line of credit has been canceled or frozen. In the declining market, many HELOC lenders have decided that overinflated home equity limits are too risky - especially when so many borrowers are facing foreclosure. Unfortunately, these [...] [...more]

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Which Lenders are Sending Out HELOC Freeze Letters?

With over 100,000 HELOC freeze letters already sent, Countrywide customers have been the most affected by the recent HELOC crisis. But, that doesn’t mean borrowers with other lenders are in the clear. Eric Reid’s ActiveRain blog summarizes what to expect from some of the top national lenders: Bank of America- Heloc Freeze pending Countrywide- Heloc Freeze already [...] [...more]

HELOC Lenders, HELOC News Comments (2)