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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (53749)	2/13/2006 4:04:58 PM
From: ild	Respond to of 110194

From Fleck's reader Hey Bill, No question for you, just my observation as a mortgage lending professional. In just the past 4 months I am suddenly being inundated with requests from previous customers asking me to consolidate credit card debt. Many bought in the last 2 or 3 years and have built up very little equity so far. Most have seen their credit scores drop considerably due to the amount of credit they have taken on. Many are willing to give up incredible fixed rates in the "fives" and take much higher rates just to try and save a few hundred dollars a month in payments. By doing these bill consolidations, they are exhausting the little equity they have. And what really scares me is most of them will turn right around and re-charge and overspend again.