Your only equity loan rate news source!
Click on each item to read full story.

 
Bank of America Raises Forecast for Home-Equity Loan Losses (Bloomberg.com)
read story
May 13 (Bloomberg) -- Bank of America Corp., the second- biggest U.S. bank, raised its forecast of home-equity loan losses to more than 2.5 percent. Liam McGee , president of the Charlotte, North Carolina- based company's consumer division, gave the new forecast at a conference in New York sponsored by UBS AG. The bank previously projected a loss rate of between 2 percent and 2.5 percent.
 
Banks rein in home equity (The Record)
read story
Large lenders such as Bank of America, Countrywide Financial and J.P. Morgan Chase & Co. have withdrawn home-equity lines of credit they previously extended because of falling real estate prices.
 
Beware the Dreaded Piggyback Loan (New York Times)
read story
So-called piggyback loans have been highly vulnerable to homeowners who walk away when property values fall.
 
Bank of America Sees Higher Losses on Home Equity (Update1) (Bloomberg.com)
read story
May 13 (Bloomberg) -- Bank of America Corp., the second- biggest U.S. bank, widened its forecast of home-equity loan losses beyond projections offered last month, adding to evidence that more consumers are falling behind on the debts.
 
The incredible shrinking nest egg (USA Today)
read story
Like millions of other people, Patty Stewart is counting on her 401(k) and her home equity to pay for retirement. But since the start of the year, the value of her 401(k) has fallen about 4%, and rising consumer prices have forced her to reduce her contributions to it. Meantime, home prices in her neighborhood are off about 25% over the past two years, making it less likely she can rely on her ...
 
New Jumbos Slow To Take Off; Can Better Rates Help Them Fly? (Investor's Business Daily via Yahoo! News)
read story
Real estate in high-priced areas is finally becoming a little easier to buy or refinance, thanks to the jumbo conforming loan program approved by Congress in February.
 
Jumbo loan rates finally decline (Bankrate.com via Yahoo! Finance)
read story
The interest rates for jumbo mortgage loans are coming down, but standards for qualifying are much tighter.
 
New Jumbos Slow To Take Off; Can Better Rates Help Them Fly? (Investor's Business Daily via Yahoo! Finance)
read story
Real estate in high-priced areas is finally becoming a little easier to buy or refinance, thanks to the jumbo conforming loan program approved by...
 
Home Loan Tips & Tricks (Moneymanager)
read story
Once you've saved up the deposit for a home, don't forget to take into account all the extra fees that come with buying a house - some or all of these: stamp duty, legal costs, disbursements, mortgage insurance, pest inspection report, survey report, builder's report, strata inspection report, loan application fee, valuation fee, registration fee, sundry fees like refinancing or switching fees.
 
LBO Debt Buybacks Trigger Review of Lending Rules (Update1) (Bloomberg.com)
read story
May 13 (Bloomberg) -- The Loan Market Association , the European banking trade group, is reviewing rules on corporate loans as private-equity firms take advantage of the credit crunch to buy back their debt at a discount.