Advertisement

Business

Business

U.S. loan delinquencies highest since 2001

July 5, 2007

Advertisement

Slow job growth and declining home prices are causing financial problems for more Americans, who are falling behind on consumer debt, including home-equity loans, at the highest rate since 2001, the American Bankers Association said this week.

Credit counselors said consumers were paying the price for reckless attitudes about debt fostered by years of easy credit, particularly in the mortgage market.

During the housing boom, home-equity loans gave many consumers a ready source of cash as the value of their property shot up. But with prices declining - quite sharply in San Diego and other California regions - borrowers have less equity available to cash out by selling their houses or refinancing their home-equity loans.

Comments

KS 6 years, 9 months ago

Does this actually surprise anyone? Maybe the LJW staff, but this is only going to get worse unless the American people learn to live within their means. The unfortunate part of this is that for those that don't have this problem, they are going to be left paying for the rest. It would appear that it does not pay to work hard and get ahead.

0

insiderinfo 6 years, 9 months ago

This yellow House customer claims Officer Rantzs aka Michael Ramsey stole his 3000.00 when he was arrested and later at the police station the guy asked for his money and Officer Rantz told him he had no money. Later after searching the guys home Office Rantz seized 39 firearms from the guys home and told the customer that he would have to Forfeit all of the guns if he ever wanted to get out of Jail. Were the 39 guns ever turned into the police dept ? In the police Procedure Manual on pg. 88 Release of Weapons to Convicted Felons section 00-36 states weapons can be released to a family member designated to assume ownership. Why did this guy have to forfeit his guns? Is this the same thing the police are trying to do to the owners of the Yellow House Business ? See the Forfeiture Allegation in the Indictment, and take a look at the page from the procedure manual. Officer Rantz is the Lead Investigator in the Yellow House Fencing Investigation How can he have any credibility ?.

:http://picasaweb.google.com/guysmileys/LawrencePoliceOfficerMichaelRamseyAkaMickeyRantzAllegedlyStoleMoneyAndGuns and check out the video see link : http://video.google.com/videoplay?docid=-4340133527651365382&pr=goog-sl

0

Commenting has been disabled for this item.