Article : Home equity lines of credit yanked

Last Updated: Wednesday, Feb 20 2008 12:04 PM

About two weeks ago, real estate agent Lynette Madden was on the phone with a client who had just received a disturbing letter in the mail.

Countrywide Home Loans was suspending his home equity line of credit, the letter read, because the company believed the value of his property had significantly declined from the date when the loan was made. ...read all...