Ben Bernanke looked about as comfortable as Roger Clemens at a Congressional hearing on the economy yesterday. In case he didn’t know, all the help the Feds are talking about is HAPPENING TOO SLOW! The credit crisis is actually a crisis when banks won’t lend to banks, never mind to you and me. The credit crunch is real!
Be very careful with your credit and assets. Stories abound of home equity credit lines being cut off, or called in, because of minor credit score variances. All credit sources are monitoring credit score movement with a very sharp eye seeking to pinpoint any problem borrowers before they get into trouble. Unfortunately, the net is cast farther and wider than necessary, and many unsuspecting borrowers are getting cut off at the knees when they least expect it.
Share this Post
Comments 3
This is the first blog that has really scared me. Calling in loans this is just horrible I can’t imagine having this happen but sounds like if they are discussing it time will tell. Such a sad time for America!
B.E.C.U was the only party of those that we contacted that were willing to extend a Home Equity Line Of Credit to permit closing on a new home while our existing home was up for sale. If useful to other please pass along.
Nice blog. Just keep up the good work on posting some interesting content in your blog.