By Larry Saunders
Loan Officer with Mahone Mortgage, LLC.
On the front page of the Washington Post (February 23, 2008), there was feature article about homeowners losing their equity lines. I brought this issue up during the past week on this blog and now it is making news in a major publication. This type of information is very helpful to know so that homeowners can make informed decisions. In this article there is a quote from a homeowner who says “I thought I was too smart for this to happen to me”. I strive to provide useful information that is important when making decisions about real estate financing and will keep you updated as the home finance market changes. It is also important consumers read and understand what many in our industry consider to be “boilerplate” terminology like “deterioration of the value of the asset or the value of the collateral“.
Do you have a HELOC? If so, what has been your experience with your HELOC in light of what many lenders are considering a declining market?
Helping you make smart decisions about your Charlottesville home financing options,
Mahone Mortgage, LLC.
685 Berkmar Court
Charlottesville, VA 22901
If you have a specific question about home equity lines of credit, you may leave a question here in the easy to use comment box or you may email Larry direct at firstname.lastname@example.org.
Larry’s website is : www.larrysloans.com