>From a lender's perspective, however, there
> is some increased risk based on lien position and whether there is real
> collateral value in the house. An appraisal is not generally cost
> effective to perform, so lenders have to rely on data that tells them
> values in a given neighborhood are stable or have increased. Why the
> equity line of credit is not used even more than it is has much to do
> consumer education and the entrenched nature of credit card use.
I'm curious- is the only way to get money back from a failed or delinquent
home equity loan by selling the home?
Say Bye to Slow Internet!