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Jan
30


Did Countrywide Freeze Long Beach Home Equity?

2 Comments »

Yesterday, I heard that Countrywide was freezing Long Beach home equity lines of credit; I thought it was a remote rumor.  I sniffed around the internet and found a lively conversation over on Yahoo Answers:

 

Countrywide just froze my HELOC

 

 

     29-Jan-08 05:31 pm    

came home today & in the mail is a letter from CFC saying that my house is worth less now so I can’t access my HELOC anymore. NO appraisal, no nothing. They screw up and now it’s my fault.

Not to fret, I have a solution if this happened to you.  Call me.

 

Brian Brady

858-777-9751

 


Laurie Manny
Long Beach Realtor (562) 212-5420

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Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803

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Long Beach Real Estate BlogLong Beach Real Estate Website

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Did Countrywide Freeze Long Beach Home Equity?
Posted on January 30, 2008 by Laurie Manny

2 Comments »

  • Kevin Tomlinson [Visitor] said:

    Wow! I can’t believe you just wrote this. When I was in NYC, aa big mortgage guy told me NOT to pay-off my HELOC because Citibank will most likely close it. He told me to just put that money in athe bank. I guess it was good advice, since all the interest is a deduction anyway.

    # 31 December 1969 at 4:00 PM
  • Long Beach Resident [Visitor] said:

    They freeze the helocs because home values are dropping and they are protecting themselves.
    If long beach real estate agents didnt push up the values to the moon thenwe residents wouldnt be facing this problem. Period!

    # 31 December 1969 at 4:00 PM

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Laurie Manny

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Main Street Realtors
Belmont Heights
244 Redondo Avenue
Long Beach California 90803

Lic.#01321200

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(562) 212-5420


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