mortgages: Whats up with Chase? Is this bad faith?
- 01/22/09 06:40 AM
So I get home today and check the mail. Low and behold I have a letter from Chase bank. My HELOC has been cancelled. They say in the letter it's because the value of my home has dropped 20%. As a note, we took out this HELOC 5 years ago. I am shocked. 20% less than 5 years ago? How in the world did they get that number? They used their "industry standard proven valuation method" whatever that is. They invite us to pay for an appraisal and if we can prove to them that our house has value then they … (0 comments)
mortgages: How is the Mortgage meltdown affecting my home prices?
- 09/14/07 03:44 AM
The current mortgage meltdown has the potiential to affect everybody's home prices. The reason for this is that mortgages are getting harder to find. In the recent past, a mortgage was really easy to get. If you had a job, a pulse, and a little bit of money, you could get a mortgage on a home. Because of this, anybody could buy a home. With so many home buyers out there, basic supply and demand rules existed. There was more demand for homes then the supply. As a result, home prices soared. Everybody that owned a home already, decided to move … (10 comments)
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So I get home today and check the mail. Low and behold I have a letter from Chase bank. My HELOC has been cancelled. They say in the letter it's because the value of my home has dropped 20%. As a note, we took out this HELOC 5 years ago. I am shocked. 20% less than 5 years ago? How in the world did they get that number? They used their "industry standard proven valuation method" whatever that is. They invite us to pay for an appraisal and if we can prove to them that our house has value then they … (0 comments)
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