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Keith Jurow

Home owners with 2nd mortgages could possibly be threatened if housing prices decrease

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With its latest domestic financial obligation and credit file, the Federal Reserve Bank of the latest York highlights that the sum total outstanding financial obligation for house equity personal lines of credit (HELOCs) hit a 14-year minimum of $412 billion by the end of 2018. That seems quite encouraging.

Consider, however, that HELOCs had been shoveled away to virtually any home owner throughout the housing bubble into the very early 2000s.