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Up Close - Up Close - February 28, 2013
Equity borrowing stages comeback as home prices rise
Lenders say value gains lift consumer confidence to tap collateral

By Mike McLean
Of the Journal of Business

Vice President of Lending Scott Adkins says Spokane Teachers Credit Union's home-equity lending has increased 30 percent in the last six to nine months.
Vice President of Lending Scott Adkins says Spokane Teachers Credit Union's home-equity lending has increased 30 percent in the last six to nine months.
—Staff photo by Mike McLean
Home-equity lending is on the rebound in the Spokane market following several years of declines that coincided with the protracted slip in real estate values, lenders here say.

Last year marked the first sustained improvement in median home sales prices in the Spokane area in four years, fueling homeowner confidence in borrowing against their gains in home equity, they say.

"We're definitely seeing a renewed interest," says Wayne Allert, vice president and credit appr...


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