Heloc

The Fed recently reported that Americans lost over 60% of their home equity between 2007 and 2009. So it's no surprise that millions of homeowners also lost the ability to borrow against the home equity they once had. In the states hardest hit by the foreclosure tsunami, like California, Nevada and...

Before the Great Recession, U.S. consumer debt had risen fairly steadily for more than a decade. With the downturn, it finally dropped...until December's small rise. However, a longer look at the trend of ever-rising debt shows that America is still extraordinarily overextended.

Negative equity is linked to higher foreclosures. About a quarter of households with mortgages already owe more than their homes are worth. If prices slip further, up to half of all homeowners may end up underwater -- a scary prospect for Americans' financial health.

People looking for work actually have to juggle two major jobs at once -- finding employment and keeping themselves financially afloat. Those are big balls to juggle when compared to the relative luxury of being an employee holding onto a job these days. One big thing to focus on during your phase...

The unchecked use of homes as ATM machines has left many home owners in the uncomfortable position of being former home owners.Now that they're out equity and have little left to be milked for fees and interest, the big banks have turned to another group: people who have been responsible, paid off...

Many homeowners have a home equity line of credit (HELOC) available to them. Some have used the equity lines to make improvements or consolidate debt. Others have not used their line of credit, but keep it open in case of emergency of for renovations down the road.But Money Magazine is now...