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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 413.19

+1.1%

Jan 6 4:00 PM EST

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To: Sea Otter who wrote (32430)	4/6/2008 5:47:59 PM
From: Elroy Jetson	Read Replies (1) of 219056

I grew up in Orinda adjacent to Moraga. I'm sure this story is the same in the entire area. sfgate.com I'm particularly amused with the way this one home owner sees credit and savings as synonymous. "We're going to be deferring other expenditures to build a pot of money to replace what Bank of America took away." When Meyers took out the credit line in November 2006, his home was valued at $1.475 million. With less than $1 million in principal outstanding on his first mortgage, he had a comfortable equity cushion to cover the line. A few weeks ago, Meyers got a letter from Bank of America informing him that the line had been suspended in its entirety. When he called to ask why, he was told that his house had dropped to an estimated $1.09 million in value, which left insufficient equity to cover the line. He insists his house has not lost that much value. He's asked the bank to reconsider. Reconsidered and denied, I'm sure. .

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