Tuesday, April 15, 2008

Why did my home equity line get reduced?

Consumer Dave can help you answer that question. Millions of Americans are receiving letters from their second mortgage lenders alerting them that their home equity lines or helocs have been cut or reduced. Can the banks cut your home equity line? Absolutely, it is written into their notes. I know it sucks but they can do it. They just are hedging against future loses.

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