Not too many takers for home equity loans

If the loan is not beneficial and the rates are not as good as they used to be, what should you do? Stop taking these loans. That’s exactly what residents in Sacramento have done – they have reduced their use of home-equity loans at twice the rate of Californians as a whole in the early months of 2006, according to a new report. Cbs13.com reports:

The company examined property records in eight counties in the Sacramento area, with the most extreme borrowing decline taking place in Sutter County -- a drop of 41.7 percent from early 2005 to early 2006.

Read more: Sacramento Residents Reducing Home-Equity Loan Use