Comments on: Dropped by Bank of America http://www.livingalmostlarge.com/2008/10/30/dropped-by-bank-of-america/ Trying to live large ...one step at a time Mon, 15 Mar 2010 23:14:39 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: LivingAlmostLarge http://www.livingalmostlarge.com/2008/10/30/dropped-by-bank-of-america/comment-page-1/#comment-3985 LivingAlmostLarge Fri, 31 Oct 2008 00:02:02 +0000 http://www.livingalmostlarge.com/?p=710#comment-3985 The prices where we live, a suburb, really hasn't gone down. I've watched prices, mostly because of the school district. Top school district so parents are constantly moving into the area for the schools. I am not sure what the reason is for the removal of the HELOC. Maybe they can't loan me $60k. The prices where we live, a suburb, really hasn’t gone down. I’ve watched prices, mostly because of the school district. Top school district so parents are constantly moving into the area for the schools.

I am not sure what the reason is for the removal of the HELOC. Maybe they can’t loan me $60k.

]]> By: Kristy http://www.livingalmostlarge.com/2008/10/30/dropped-by-bank-of-america/comment-page-1/#comment-3986 Kristy Thu, 30 Oct 2008 17:56:31 +0000 http://www.livingalmostlarge.com/?p=710#comment-3986 I just heard the other day that there are two (big)cities that have not been hit by the housing crisis: Cleveland and Boston. We have lost about 20% of value in our home. I just heard the other day that there are two (big)cities that have not been hit by the housing crisis: Cleveland and Boston.

We have lost about 20% of value in our home.

]]> By: fengshui http://www.livingalmostlarge.com/2008/10/30/dropped-by-bank-of-america/comment-page-1/#comment-3984 fengshui Thu, 30 Oct 2008 17:04:50 +0000 http://www.livingalmostlarge.com/?p=710#comment-3984 Wow. To lose 25% value??? That is a lot. It makes me feel so fortunate that my area hasn't experienced that. Our home has appreciated over $12k since we bought it 2 years ago. Our taxed assessed value went up $6k and appraisal by $12k. However, think that Barb is correct that BOA isn't basing this on the value of your home, but more that they can't give you $60k..... HELOCS are nice. Unfortunately we used ours to finance the other 20% of our home since we didn't use a DP. Wow. To lose 25% value??? That is a lot. It makes me feel so fortunate that my area hasn’t experienced that. Our home has appreciated over $12k since we bought it 2 years ago. Our taxed assessed value went up $6k and appraisal by $12k. However, think that Barb is correct that BOA isn’t basing this on the value of your home, but more that they can’t give you $60k….. HELOCS are nice. Unfortunately we used ours to finance the other 20% of our home since we didn’t use a DP.

]]> By: Barb1954 http://www.livingalmostlarge.com/2008/10/30/dropped-by-bank-of-america/comment-page-1/#comment-3983 Barb1954 Thu, 30 Oct 2008 13:44:49 +0000 http://www.livingalmostlarge.com/?p=710#comment-3983 The cut in your HELOC limits have nothing to do with the equity in your home. All banks are cutting credit limits for HELOCs and credit cards. They don't have the cash to lend money. The letter you received is just one more result of the credit crisis. The cut in your HELOC limits have nothing to do with the equity in your home. All banks are cutting credit limits for HELOCs and credit cards. They don’t have the cash to lend money. The letter you received is just one more result of the credit crisis.

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