Quick! Load Up On Debt Before We Run Out!
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Homeowners in Florida are seeing the potential equity in their homes falling after average run ups of 30% a year from 2000 through 2005. Over the last year, the price has dropped 1%.
With those facts, what does local housing analyst David Levin suggest? Residents shouldn’t delay in applying for home equity loans before there is even more price erosion!
“It would have been better to get these loans two months ago, but now is better than tomorrow…”
Couldn’t agree more. That’s exactly what your average consumer needs - more variable rate lines of credit in a period of rising interest rates tied to probably their most valuable asset. (By the way, that’s a touch of sarcasm if it wasn’t obvious…)
[Again, a day late and a dollar short: Uncle Jack beat me to the punch on this one... ;)]
Tagged:
» home equity loan, line of credit, interest, real estate, mortgage, credit, debt, bad advice
Uncle Jack said,
Wrote on August 26, 2006 @ 8:32 am
Nice site. Thanks for the nod.