The HELOC As Disability Insurance

This morning we have Vikas Bajaj in the NYT reporting on second-lien lenders refusing to go quietly:Americans owe a staggering $1.1 trillion on home equity loans — and banks are increasingly worried they may not get some of that money back. To get it, many lenders are taking the extraordinary step of preventing some people from selling their homes or refinancing their mortgages unless they pay off all or part of their home equity loans first. In the past, when home prices were not falling, lenders did not resort to these measures.U…
Original Source: feeds.feedburner.com/CalculatedRisk

  27 March, 2008| housingblogs | @ 13:58

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