Wachovia banking problem!!!!!!!

[diablo36]

Wachovia cuts unused home equity lines of credit, and more homeowner defaults may follow to recession. Wachovia Corp said today Monday that it's limiting homeowners' ability to tap home equity lines of credit that they haven't used yet as the giant bank tries to cut its exposure! simple mean that even if you want to take home equity you better to save money for black hour, recession is camming soon so Bank will not be able to borrow money even again your home even if you have paid your home in full!. No more home equity loans for anyone even for those people than have 800 credit score and good home equity value or pay off home! Not only Wachovia corporation do it but bank of america, CITI bank will follow the same procedure!

[biuro446]

This is beginning of U.S Market Crisis, If U.S government stop War in Iraq and and start worry about economy and lower interest rate, and cut deficit as well take care of inflation then people will be able to take a home equity loan if not we will see a recession on the end of 2008 year!

[frank21s]

Wachovia as well bank Citi bank and Bank of America have a lot of trouble in cash flaw, they need to sell asset and borrow money from foreign banking in order to operate! what happen if let say you have a life insurance policy for $400,000 and something happen to you, your spouse, love one want to take those money to secure financial life and they go to local branch file a paperwork and they found that their bank don't have enough money to pay your benefit! this is frustrated and our economy is already in recession!