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Updated over 3 years ago, 07/12/2021

Account Closed
  • Investor
  • Scottsdale Austin Tuktoyaktuk
4,140
Votes |
4,205
Posts

Wells Fargo Abruptly Closes Lines of Credit - The End Is Near

Account Closed
  • Investor
  • Scottsdale Austin Tuktoyaktuk
Posted

When banks start restricting credit, they are not confident about people's ability to repay. That means the use of Lines of Credit, HELOCS and other lending for real estate investing will dry up too.

Wells Unexpectedly Shuts All Existing Personal Lines Of Credit, Hinting US Economy On The Edge

Customers have been given a 60-day notice that their accounts will be shuttered, and remaining balances will require regular minimum payments, according to the statement.


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