So the "party all the time" Americans owe $1.1 TRILLION in home equity loans (HELOCs). How much of that do you figure won’t be getting paid back?

BoatsCarsHookersCocaineGranite CountertopsAnd one hell of a spending binge these past few years. Free money! Free money! Oh, crap, you mean it has to be paid back? But that’s not fair - my home value has plummeted. OK, screw it, you can have the damn house. Here. Take the keys….
Original Source

  27 March, 2008| housingblogs | @ 21:41

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