you are going to have the payments go up but banks want their money back so rather than defaulting on this, or going bankrupt . if they default on this can they take your house? if it is folded into the primary mortgage yes bought the house used as collateral. but if it is not? they still can. it is using the collateral. so you would be facing a lien on your home? yes but housing prices are going up. good, so we will end on that note. you can catch brenda on bulls and bears, every saturday morning right here on saturday on fox news channel. speaking of underwater in a different way the world s first underwater oxygen bar has just opened up. stay tuned.
during the housing boom many americans took out home equity lines of credit. as the loans start to reset some folks could see their pavements more than double. look at this chart. if someone owes, for example $10,000 they initially pay the $25 in interest but with principle included it jumps to $55. if you took out a loan increase $100,000 the payment would go from $250 in interest-only to $555. what options people have to deal with this cost increase? brenda buttner is our senior business correspondent and the anchor of bulls & bears. why is this happening? it is interesting. think back ten careers 2005, the height of the housing boom. your housing prices are going
we know the falling oil prices help our price we pay when we fill up the car. many products in industries rely on oil and falling prices but could it mean bigger savings for them? we look at a website that identified some of the businesses that could benefit, including gas stations and airlines and grocery stores and on and on were we get to the spokes in a second. here is the question: will any of the industries pass the savings on to you and you and you and you? brenda buttner is here with the story. the anchor of bulls & bears. i know you will break it into specifics. starting with gas stations. absolutely. we have seen the price of oil take a dramatic plunge down 50 percent so why are gas prices
are a dozen oil refineries that represent 20 percent of the united states gasoline production. former united states labor secretary chou weighed in on the strike on sunday morning futures. the timing of this is not especially advantageous for organized labor. the economy is still mixed. if you look at friday s unemployment number although the unemployment rate dropped to 5.5 percent a lot of other economic indicators are still soft. joining me is brenda butner anchor of bulls & bears. a lot to talk about including former secretary chao talking job numbers. should we start there? we have been 5.5 percent unemployment rate the lowest level since may of 2008. what are the numbers that is
and back in this country, the los angeles kings reclaimed the throne, winning the stanley cup last night. they beat the new york rangers, 3-2, in double overtime to win the cup in five games. the second championship in three years for the kings. hope you re having a great saturday morning. now back to bulls&bears. cut spending. is that the big lesson from the primary that changed history? the unknown candidate kicking out the house majority leader eric cantor. he wants to slash spending and our debt. joining is emily tishsalzman. is the message start cutting or we ll cut you? yeah. she traded pigs. she s going to d.c.