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They basically have to take all comers as long as they have enough equity.
"We couldn't because we didn't have enough equity in the house," Mrs. Schiefer said.
And efforts to expand refinancing options will help only those borrowers who have enough equity to refinance.
Most homeowners are sitting on large gains, and have enough equity to shield both themselves and their mortgage lenders from quite a severe downturn.
"For those people, even if they want to move to restore their position, they can't because they don't have enough equity to get a new mortgage deal".
Since Mr. Lee, a high school aide, doesn't have enough equity to refinance, he now needs a loan modification or a miracle.
Similar(29)
The Sullivans had enough equity in their house to go back to Wells Fargo and get a loan to pay off the Household loan.
I have to say, I was underwhelmed by his performance -- he missed a few beats, and, in a short cross, focused on the point that Apollo and Hexion made a representation in the agreement that they had enough equity but knew they might need more.
What enrages me is putting more than a decade worth of payments into a home and still not having enough equity to be able to get out.
It might also require that the bank have enough common equity to start lending again, something investors increasingly demand.
The idea of stress-testing is to make sure banks have enough capital and common equity capital specifically to make it through a storm that promises to be even worse than the one we already have.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com