H.E.L.O.C. | A new wave of U.S. mortgage trouble threatens


H.E.L.O.C. | A new wave of U.S. mortgage trouble threatens

H.E.L.O.C. | A new wave of U.S. mortgage trouble threatens

Most of the time the main lender was also the second.


U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks.

The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying all along.

More than $221 billion of these loans at the largest banks will hit this mark over the next four years, about 40 percent of the home equity lines of credit now outstanding.


image: YAHOO

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One Response to “H.E.L.O.C. | A new wave of U.S. mortgage trouble threatens”

  1. Sarah says:

    How would it deal another blow? No one went to jail for fraud and everybody except the homeowners were bailed out. Now sit back and wait for a torrent of articles describing the irresponsibility.


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