Greater Sacramento’s home values have declined 30 percent since the peak of the housing market in fourth-quarter 2005, according to a real estate Web site.
And almost 70 percent of families in the four-county region who bought their homes in 2006 have negative equity, one of the highest rates in the nation but far from the [...]
Home equity loans grew popular in the 1980s, as lenders let homeowners borrow as much as 100 percent of their equity. But in 2007, that practice was given a major overhaul.
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During the wild and bullish price run experienced across housing markets at [...]
Life can throw you plenty of curveballs, and some of them can be financially destructive. If tough times hit, you’ll need to consider a solid option for making ends meet. Try a home equity loan.
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With relatively low interest rates and tax-deductible interest, home equity lines of credit (HELOCs) have always been considered the best choice when it comes to home improvement loans. But while they might be the top lending tool for homeowners, HELOCs have their fair share of risks. The phrase “one size fits all” might [...]
It’s amazing what a little uptick in interest rates and a slow-moving housing market will do to consumer behavior. Back when rates were low, people couldn’t tap their equity fast enough. Now, with rates hovering around 8 percent and home sales dragging, borrowers are singing a different tune.
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Do you think that you’re sitting on a gold mine? If the value of your home has grown at dizzying speeds over the last few years, and your equity balance is looking juicy, it may be time for some prospecting. But is your timing right?
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In the 16th century, Francis Bacon mused, “Knowledge is power.” Although he wasn’t talking about home equity loans, his truism is equally applicable to the loan application process. When you’re shopping for home equity loans, give yourself every advantage by knowing how a lender will evaluate you during the process.
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