24/7 Wall St.
08-06-2008, 07:33 AM
24/7 Wall St. Daily News
Morgan Stanley (MS) has gone to some of its private clients and told them they cannot borrow more on their home equity lines of credit. The customers thought they had signed up for the deals so that they would have money to access in the future when they needed it for things like college education or a new yacht. The brokerage house reasons that many of the homes belonging to these people are not worth the value of the mortgages. That would make the secondary loans on the properties pretty risky.http://feeds.feedburner.com/~f/typepad/RyNm?i=0N1khK</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=0N1khK) http://feeds.feedburner.com/~f/typepad/RyNm?i=gmUEFK</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=gmUEFK) http://feeds.feedburner.com/~f/typepad/RyNm?i=zpgtmk</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=zpgtmk)
complete story here... (http://www.247wallst.com/2008/08/morgan-stanley.html)
Morgan Stanley (MS) has gone to some of its private clients and told them they cannot borrow more on their home equity lines of credit. The customers thought they had signed up for the deals so that they would have money to access in the future when they needed it for things like college education or a new yacht. The brokerage house reasons that many of the homes belonging to these people are not worth the value of the mortgages. That would make the secondary loans on the properties pretty risky.http://feeds.feedburner.com/~f/typepad/RyNm?i=0N1khK</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=0N1khK) http://feeds.feedburner.com/~f/typepad/RyNm?i=gmUEFK</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=gmUEFK) http://feeds.feedburner.com/~f/typepad/RyNm?i=zpgtmk</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=zpgtmk)
complete story here... (http://www.247wallst.com/2008/08/morgan-stanley.html)