Home Equity Lines; Here Today and Gone tomorrow

Many banks are now freezing or cutting off the home equity lines of credit THAT THEY HAVE ALREADY MADE, as they finally realize the lines of credit are more than the home is worth. Your line of credit could be gone shortly so be aware that it can happen overnight. The high second mortgages are now worthless on many homes as their values continue to drop. Many banks will not make these lines available any longer until the market settles down. www.rateinformer.com