Home Equity Lines of Credit
Do you have
equity in the home that you own now? Do you need money for college education,
home improvements, a long awaited vacation or a new car? Whether you have any
equity or not, you may be able to take advantage of borrowing opportunities that
did not exist one year ago.
Over the past two years, the number and type of home equity loans available to consumers has mushroomed as banks and finance companies have accumulated large amounts of cash that they need to lend back out to borrowers. The highly competitive nature of home equity lending has caused lenders to offer an increased number of programs to consumers. In addition to the usual rate competition, lenders continued to increase the maximum amount they would loan on a
Programs have leaped from 80% to 90% to 100%, and 1997 have topped out at 125%.
Article continued at http://www.mortgagealmanac.com/articles/97-helocs.html
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