Holy Cow. The local US Bank has a sign board out front that says “Home Equity Loans 5.9%”
I thought the home equity loan was dead. I didn’t stop to get details, but it makes me feels encouraged that maybe the banks are going to start actually giving some loans.
I know a lot of banks are advertising home equity loans in the cleveland area; the problem is that the guidelines are much tighter and therefore making it next to impossible to qualify. Here, they are only available on owner occupied sfh, first position, with excellent credit…
Here, they are only available on owner occupied sfh, first position, with excellent credit...
kkiefer216 is right. The money is out there, but it is only being given to those with stellar credit and VERY LOW RISK situations.