Home Equity Loans: More Americans Are Making Payments on Time

Times are tough, but Americans are apparently rising to the challenge -- by becoming more frugal. The American Bankers Association reports that borrowers are missing fewer payments on their home equity loans, home equity lines of credit and credit cards. The rate of delinquency payments declined for the third straight quarter, said the ABA. Home equity loan delinquencies dropped to 4.12 percent from 4.32 percent in the previous quarter; delinquencies on home equity lines of credit fell to 1.81 percent from 2.04 percent last quarter and a high of 2.12 percent in the third quarter of 2009.



More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Read Full Story

Can't get enough real estate news?

Sign up for Finance Report by AOL and get everything from celebrity homes to renovation tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a home

Buy
Rent
Value
Powered by Zillow