NBC Nightly News On The Increase In Shutoffs Of The HELOC Spigot

The NBC Nightly News recently ran a story on the cutting and freezing of existing home equity line of credit ("HELOC") accounts by major lenders, catching many homeowners by surprise. The sharp decrease in real estate values in many parts of the country is considered the primary reason. Reportedly, 70% of HELOC lenders are tightening standards and 50% are reducing existing credit lines.

For the story, see Lenders cut or freeze home equity credit lines (video only).