Equity Line

EDMONTON, July 14 /PRNewswire-FirstCall/ - Isotechnika Inc. (TSX:ISA - News; "Isotechnika" or the "Company") announced today that it has delivered a drawdown notice to Azimuth Opportunity, Ltd. under the terms of its purchase agreement (the "Purchase Agreement") with respect to its previously announced equity drawdown facility (the "Equity Line"). Pursuant to the terms of the Purchase Agreement, the drawdown pricing period (the "Pricing Period") shall be 20 consecutive trading days commencing on the start of the Pricing Period (or such other period mutually agreed to by the parties) and the start of the Pricing Period will occur not later than five trading days after delivery of the drawdown notice.

The Company has receipted a base shelf prospectus (the "Prospectus") dated May 23, 2006, and has filed a supplement to the Prospectus dated May 25, 2006.

CHICAGO (Dow Jones) -- If you're a borrower with a variable-rate line of credit, the Federal Reserve's two-year campaign of raising interest rates has no doubt caught your attention. After each of 17 hikes, the latest coming Thursday, banks have boosted their prime rate, the benchmark to which most variable loans are tied.
That means many borrowers are now paying an interest rate four percentage points or more above their starting rate. But depending on their loan type, consumers feel the effect of hikes at different times.
Interest rates on variable-rate home-equity lines of credit, for example, tend to go up shortly after the Fed makes a move, said Greg McBride, senior financial analyst for Bankrate.com. The repricing of student loans, on the other hand, happens less frequently: The interest-rate adjustment for these loans on July 1 took into account increases over the past year, causing many borrowers to consolidate before June's end.

If you owe money on your home equity line of credit or if it feels like you have a gazillion payments left on an adjustable rate mortgage, you are probably feeling the pain of higher interest rates.

Perhaps you obtained your loan when lenders were bragging that rates hadnt been so low since the Cuban missile crisis. Unfortunately, the killjoys swept up the confetti many months ago.

Yet many homeowners are surprised at how quickly their once-great loan packages have turned into aching charley horses. Someone who snagged a home equity line of credit with a 4 percent interest rate in 2004 could now be making payments with a rate thats doubled.

Not surprisingly, interest in refinancing has dropped as the rate miasma has repelled shell-shocked homeowners.

But bunkering down in your overpriced tract home and adopting an attitude of abject hopelessness wont necessarily be your best strategy.

In a move to expand its menu of fixed-rate products, second-mortgage lender DeepGreen Financial recently launched a 30-year home equity loan.

The Cleveland-based company began offering the new loan last month in response to the increasing demand for fixed-rate second mortgages instead of adjustable-rate home equity lines of credit, said Sy Naqvi, chief executive of the online lender.