Freezing in NH

…Damned if they don’t.  I’ve seen a couple articles recently about banks capping home equity lines of credit.  I can see how people might be upset, especially if they have a tuition bill or tax bill they need to pay soon and had planned to use the line.  But banks have been accused of lending too much money, and now they’re reacting to the losses from that.  I suspect they don’t have the time and manpower to go through every HELOC on their books and evaluate each house in a reasonable time frame.  Much simpler to cut off everyone, and then re-evaluate folks when they complain.  If I were a shareholder I would completely approve.  No sense in wasting all that time, just evaluate the ones that want to use the line.

This entry was posted on Tuesday, April 15th, 2008 at 3:17 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.