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Strategies & Market Trends : Currents of Currency

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To: Ahda who wrote (248)	6/3/2014 3:23:21 PM
From: Ahda	of 594

If one anticipates property prices will escalate one need not do this! Bloomberg Wells Fargo & Co. (WFC), the biggest U.S. residential lender, has stopped offering most customers the interest-only version of its home-equity line of credit. New borrowers must repay some principal along with the periodic interest instead of waiting until future years, Tom Goyda, a Wells Fargo spokesman, said today in a telephone interview. Customers of the San Francisco-based bank can still get the interest-only option if they have “significant assets” and demonstrate ability to handle a bigger bill when principal becomes payable, Goyda said. Wells Fargo first made the change in November, according to Goyda. The revision was reported earlier today by the Wall Street Journal.

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