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Alphonse Quenneville

AMERICAN LENDERS CLOSE HOMEOWNER LINES OF CREDIT

Oh-oh! . . . Thousands of American homeowners have been handed rude credit-line surprises recently, The Los Angeles Times reports. Their lenders have told them they can no longer take money out on their lines of credit because sinking home prices have left them with little or no equity.

Published Tuesday, February 12, 2008 1:07 PM by Alphonse Quenneville

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Alphonse said:

I think the situation is only going to get worse, and will eventually spill over into Canada, but not for the same reasons the US is suffering.  As regular US citizens spend less, our exports to the US will wain....

February 12, 2008 10:31 PM

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