Comments on: Tucson Lost Home Equity

By: David Smith

David Smith — Thu, 19 Jun 2008 14:59:35 +0000

Shawn,

To me that is a good thing. Way to many people have been using the equity in their homes as an ATM machine. I put home equity loans up there with reverse mortgages. Use if you must, but only as a last resort.

The draining of equity from a home so you can take a vacation or buy something has contributed to the recent credit crisis. They were borrowing against something they didn’t have, just like the people who were getting “fog a spoon get a loan”.

By: Shawn

Shawn — Thu, 19 Jun 2008 14:54:08 +0000

But vast numbers of people use that equity for loans, now that they’ve lost there are problems. It’s not just about selling the home.

By: Curtis Reddehase

Curtis Reddehase — Mon, 16 Jun 2008 20:14:50 +0000

Great point, too many people are worried about the value of their home when they have no neeed to move or sell for years to come.