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Misty Williams on Real Estate ~

Home equity loan delinquencies rise

July 5th, 2007, 12:14 pm · Post a Comment · posted by mistywilliams

A climbing number of Americans are missing payments on their home equity loans, new statistics show. According to the American Bankers Association, consumers’ overall financial health took a hit in the first three months of the year, as job growth slowed, home prices fell and overall economic growth weakened.Home equity loan delinquencies rose to 2.15 percent in the first quarter 2007, up from 1.92 percent at the end of last year, association data shows.But all the news wasn’t bad. During that same period, credit card loan delinquencies fell to 4.41 percent, compared with 4.56 percent in the fourth quarter 2006.

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