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re: Wells Fargo suspends new HELOC loans

Posted on 12/5/23 at 5:11 pm to
Posted by hubreb
Member since Nov 2008
1853 posts
Posted on 12/5/23 at 5:11 pm to
HELOCs are typically adjustable at Prime + a margin..I have one that has no balance but would cost me 11.5% to draw on...had a teaser rate of 1% for 6 months when I used it

WFC probably seeing people draw on lines and becoming delinquent...was a huge issue in 2008-2010
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