Wow, so much has transpired since this thread was originally started.. The FED has driven interest rates to unprecedented lows for many to buy a house..... or refi at incredibly low interest rates as BE EASY mentions.
It was evident early on in the Crisis that the CC companies were worried so many folks were going to default on their debt... even their good paying customers. So much so that they reduced their credit limit (for probably most of their customers), in order to limit the CC company's exposure. They had truly ' batten down the hatches.'
Folks , we were quite close to Great Depression 2.0, if not for the aggressive actions of the FED. Now, here in 2014, we are trying to adapt to a life again without the FED (who is trying to 'unwind' those unprecedented policies ... and that is proving difficult).
Just Witness the Stock Market here in these few weeks of 2014.
Wow, so much has transpired since this thread was originally started.. The FED has driven interest rates to unprecedented lows for many to buy a house..... or refi at incredibly low interest rates as BE EASY mentions.
It was evident early on in the Crisis that the CC companies were worried so many folks were going to default on their debt... even their good paying customers. So much so that they reduced their credit limit (for probably most of their customers), in order to limit the CC company's exposure. They had truly ' batten down the hatches.'
Folks , we were quite close to Great Depression 2.0, if not for the aggressive actions of the FED. Now, here in 2014, we are trying to adapt to a life again without the FED (who is trying to 'unwind' those unprecedented policies ... and that is proving difficult).
Just Witness the Stock Market here in these few weeks of 2014.
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