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Barclays Issues Warning on 'Underwater' Borrowers and Home Equity Loan

Posted by James Breen at 1 May 2008 5:40

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April 29th, 2008 categories: Tampa Real Estate, Tampa MLS, Tampa Market Conditions, Short Sale Information, Tampa Home Buyer Tips By now many Tampa home buyers are aware that purchasing a pre-foreclosure property is not all that easy. Short sales, or short listings, as they should really be referred to, are abundant across the Tampa Bay area. A short sale listing is a home for sale for which the listed price will not be adequate to cover the seller's loan .. read the rest part.

Take a look on this one post on the day before yesterday.

Dandelion Salad by Prof. James Petras Global Research, April 29, 2008 Introduction From the middle of the 19th century but especially after the Second World War, two models of empire building competed on a world scale: One predominantly based on military conquests, involving direct invasions, proxy invading armies and subsidized separatist military forces; and the other predominantly based on large-scale, long-term economic penetration via a combination of investments, loans, credits ..keep reading.

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None other than Barclays Capital warned Tuesday that roughly half of all subprime and Alt-A borrowers in the U.S. could soon owe more than their house is worth, or have extremely minimal equity left — a problem that is imperiling more homeowners in the States than mortgage rate resets, which have received far greater press coverage. Continued price declines are likely to put as much as $800 billion worth of debt at risk, Bloomberg reported: Subprime loans from 2006 and 2007 that exceed the ..Read the rest of this post.

Cheers, guys!

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To make sure your credit history won't keep you from qualifying for a home equity loan, visit a credit reporting company online such as www.experian.com to quickly and easily access your credit report. Make sure all the information on your credit report is accurate. "If you notice anything questionable, such as accounts you don't recognize, or payment disputes, deal with those issues before applying for a home equity loan, " says Sweet.


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