Posts tagged as:

home equity

Wells Fargo Sued For Reducing Home Equity Credit Lines

August 21, 2009

In Illinois class action complaint (PDF), a homeowner alleges Wells Fargo violated federal regulators’ warnings by reducing credit limits on all accounts in a geographic area without assessing the value of the actual houses.
The homeowner accuses Wells Fargo of using “unreliable or inaccurate analyses” to determine property values—using computer models to predict home values—rather than [...]

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More on the HELOC freeze from SmartMoney.com

April 24, 2008

More on the HELOC freeze from SmartMoney.com (with a shout out to yours truly).

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Citibank’s HELOC freeze is causing more than just a few bounced checks

April 8, 2008

From the comments, it looks like Citibank’s HELOC freeze is causing more than just a few bounced checks. Reader Barbara Clark says Citibank reported the loan as suspended on her credit report, turning it into a major negative account and trashing her credit.

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Citibank freezes home equity lines of credit nationwide

April 7, 2008

I just spoke with a homeowner who bounced a check to her tree service because Citibank suspended her home equity line of credit before notifying her. When she finally received a notice from Citibank in the mail, it suggests that (PDF link) Citibank is apparently suspending home equity lines of credit nationwide due to [...]

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