Only a year ago, it was incredibly easy for anyone with half decent credit to get a home equity loan on 100% or more of the equity that they had in their home. Today things have changed tremendously. Banks aren't loaning anything close to the 100% equity in the past, the loans are a lot harder to qualify for, and the default rates on these home equity loans have gone up over 700%. For more details on today's changing home equity loan, please click on the link below to view an article from the Miami Herald.
The Changing Home Equity Loan
Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com
Sunday, April 20, 2008
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