Most of the time the main lender was also the second.
Reuters-
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.
[REUTERS]
image: YAHOO
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
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.