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Home › Forums › Financial Markets/Economics › JUST REPORTED WAMU cuts/suspends $6 BILLION in HELOCS

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  • May 16, 2008 at 12:26 PM #12758
    HLS
    Participant

    WaMu Cuts or Suspends $6B in HELOCs

    Washington Mutual, one of the nation’s largest second-lien lenders, has terminated or suspended $6 billion in available home-equity lines of credit.

    I also predict that people will have CREDIT CARD lines shut down in the future as well…

    The noose is tightening…

    May 16, 2008 at 1:05 PM #205967
    Enorah
    Participant

    I’m having that “something’s just around the corner” feeling again.

    May 16, 2008 at 1:05 PM #206017
    Enorah
    Participant

    I’m having that “something’s just around the corner” feeling again.

    May 16, 2008 at 1:05 PM #206050
    Enorah
    Participant

    I’m having that “something’s just around the corner” feeling again.

    May 16, 2008 at 1:05 PM #206075
    Enorah
    Participant

    I’m having that “something’s just around the corner” feeling again.

    May 16, 2008 at 1:05 PM #206102
    Enorah
    Participant

    I’m having that “something’s just around the corner” feeling again.

    May 16, 2008 at 1:22 PM #205977
    Daniel
    Participant

    HELOC is the new subprime…

    http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

    Or, to put it another way, the headline should read:

    “WaMu closes barn door. Horses last seen in 2005”

    May 16, 2008 at 1:22 PM #206027
    Daniel
    Participant

    HELOC is the new subprime…

    http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

    Or, to put it another way, the headline should read:

    “WaMu closes barn door. Horses last seen in 2005”

    May 16, 2008 at 1:22 PM #206061
    Daniel
    Participant

    HELOC is the new subprime…

    http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

    Or, to put it another way, the headline should read:

    “WaMu closes barn door. Horses last seen in 2005”

    May 16, 2008 at 1:22 PM #206086
    Daniel
    Participant

    HELOC is the new subprime…

    http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

    Or, to put it another way, the headline should read:

    “WaMu closes barn door. Horses last seen in 2005”

    May 16, 2008 at 1:22 PM #206115
    Daniel
    Participant

    HELOC is the new subprime…

    http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

    Or, to put it another way, the headline should read:

    “WaMu closes barn door. Horses last seen in 2005”

    May 16, 2008 at 2:09 PM #206104
    kewp
    Participant

    I’m having that “something’s just around the corner” feeling again.

    Lots of people, myself included, think the rapid increase in consumer CC debt is due to FB’s loading up their credit cards after losing access to their HELOC. They are planning on filing bankruptcy anyway and are just loading up as much debt as possible before defaulting.

    May 16, 2008 at 2:09 PM #206188
    kewp
    Participant

    I’m having that “something’s just around the corner” feeling again.

    Lots of people, myself included, think the rapid increase in consumer CC debt is due to FB’s loading up their credit cards after losing access to their HELOC. They are planning on filing bankruptcy anyway and are just loading up as much debt as possible before defaulting.

    May 16, 2008 at 2:09 PM #206161
    kewp
    Participant

    I’m having that “something’s just around the corner” feeling again.

    Lots of people, myself included, think the rapid increase in consumer CC debt is due to FB’s loading up their credit cards after losing access to their HELOC. They are planning on filing bankruptcy anyway and are just loading up as much debt as possible before defaulting.

    May 16, 2008 at 2:09 PM #206134
    kewp
    Participant

    I’m having that “something’s just around the corner” feeling again.

    Lots of people, myself included, think the rapid increase in consumer CC debt is due to FB’s loading up their credit cards after losing access to their HELOC. They are planning on filing bankruptcy anyway and are just loading up as much debt as possible before defaulting.

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