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August 21, 2008 6:43:39 PM CDT

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Stories related to: home equity loans

Stories

6 Stories

  • August 2008

    • Bank Ads Helped Spin 2nd Mortgages

      New York Times  |  Aug 15, 08 11:59 AM CDT

      Bank Ads Helped Spin 2nd Mortgages

      (Newser) - Until recently, borrowing against one's home was considered a desperate measure, but now it's commonplace. Since the 1980s, outstanding home-equity loans—once called second mortgages—have exploded a thousandfold to more than $1 trillion. The New York Times looks at how banks waged a concerted advertising campaign to transform Americans' attitude toward debt, enriching themselves while leading homeowners to financial ruin. More »

      Tags

      advertising  • debt  • home equity  • mortgage debt  • lending practices  • home equity loans

    • Morgan Stanley Cuts Off Home Equity Lines

      Bloomberg  |  Aug 6, 08 2:07 PM CDT

      Morgan Stanley Cuts Off Home Equity Lines

      (Newser) - Morgan Stanley has told thousands of its home-equity credit clients they can no longer draw on the lines, Bloomberg reports. Most had property values that had fallen, and were frozen to cut back on risk, a source said. A Morgan Stanley spokesman confirmed that “a segment of clients” had been notified of changes, but said it wasn’t out of the ordinary. More »

      Tags

      credit market  • Morgan Stanley  • home equity  • home equity loans

  • June 2008

    • Banks Play Hide-and-Seek With Bum Loans

      Wall Street Journal  |  Jun 19, 08 10:19 AM CDT

      Banks Play Hide-and-Seek With Bum Loans

      (Newser) - Banks are increasingly finding creative ways to lessen the impact of shaky loans on their bottom lines, shifting them to subsidiaries or changing their definition of non-performing, the Wall Street Journal reports—a legal, if not exactly confidence-inducing, strategy. "Spending all the time gaming the system rather than addressing the problems doesn't reflect well on the institutions," one analyst said. More »

      Tags

      credit crisis  • real estate values  • mortgage defaults  • bank regulation  • home equity loans

    • Creditors Fed Off Equity Boom, Creating 'Double Bubble'

      USA Today  |  Jun 18, 08 3:55 PM CDT

      Creditors Fed Off Equity Boom, Creating 'Double Bubble'

      (Newser) - As home values boomed, banks raised credit limits and extended offers for new cards, urging consumers to pay off the debt by drawing on their equity, USA Today reports. Many of those borrowers now face high interest rates on homes tapped of equity and hemorrhaging value—and the boom in foreclosures has been accompanied by a 6-year high in credit-card delinquencies. More »

      Tags

      foreclosure  • bank  • credit card  • home equity  • default  • home equity loans

  • December 2007
  • October 2007

    • Housing Ills Ripple Across Pond

      Wall Street Journal  |  Oct 22, 07 2:00 PM CDT

      Housing Ills Ripple Across Pond

      (Newser) - The American housing crisis is echoing in Europe, where home prices are dropping after a decade of rapid growth. The damage is limited, however, by intercontinental differences. High interest rates and shaken confidence are catching up to prices in France, Ireland, and particularly Spain, where new home construction had spurred major growth but permits are now plummeting, the Journal reports. More »

      Tags

      France  • Germany  • housing crisis  • Europe  • Spain  • mortgage  • Ireland  • home equity loans

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