"Demand for business loans was generally soft, with activity driven by nonprofits and energy companies. A few of our contacts noted a pick-up in construction-loan requests for multifamily dwellings. On the consumer side, indirect auto lending was strong, while draw-downs on home equity lines of credit tapered off. Other installment loan categories remain weak."
— Crains Cleveland Business
Refinancing your home can be a great way to get extra cash to fund a renovation. Naomi talks to a number of experts to find out if refinancing is the best option for her family before undertaking the renovation. View Episode 1: Renovating your home View Episode 3: Building and using your equity
"We continue to make progress toward our goal of selling mortgage servicing assets to a new entity, Home Loan Servicing Solutions, while retaining a servicing contract. This is a part of our strategic plan for Ocwen to become an ‘equity-light’ fee-for-service business."
— Street Insider
"Lending institutions are more open to offering a loan when they see more cash on the table from other sources like retirement funds, home equity loans and access to other assets of the borrower … Today, 70 percent of our clients use multiple forms of financing."
— SouthCoastToday.com
Using a home purchase to illustrate assets, liabilities and owner’s equity.
"They need money for their business, but they end up with no equity in the only asset they have - their home - and the only asset they can offer as collateral to get a loan"
— Palm Beach Post
"my credit doesn’t matter, the amount of equity in my home doesn’t matter, no appraisal necessary, no income verification necessary—all that matters is that I have a VA home loan and no additional liens on the property, like a second mortgage."
— AlterNet.org
"To lower the rating because the limit is NOT raised is like cutting the FICO score of a homeless person because he is denied a home equity loan."
— Clusterstock
"Home equity loans are popular ways to finance a vehicle. Interest rates are generally lower than auto loan rates and in some cases, it may be tax deductible, the interest"
— FOX-KHON 2 Hawaii
"Demand for business loans was generally soft, with activity driven by nonprofits and energy companies. A few of our contacts noted a pick-up in construction-loan requests for multifamily dwellings. On the consumer side, indirect auto lending was strong, while draw-downs on home equity lines of credit tapered off. Other installment loan categories remain weak."
— Crains Cleveland Business
Gold Coast Bank President Joseph Peri said they are speeding up the process so the emergency loans will be approved faster.
More than one of every three homeowners in South Carolina has no mortgage or home loan.
A refinance can make sense for many reasons, from getting a lower rate to consolidating debt.
The Better Business Bureau wants to alert consumers about loan modification scams and how too-good-to-be-true deals are more common in today’s fragile economy.
While blithely tapping into your home equity for cash may not be the wisest thing to do — as we’ve learned the hard way from the mortgage crisis — establishing a home equity line of credit, or HELOC, can be a good way to create access to quick money for medical or household emergencies.
