OCHN: Wave of HELOC resets to cause 400% increase in delinquency

When a HELOC recasts to a higher payment, borrowers default at rates five times larger than normal.

The housing market bottom of 2012 was engineered by policy at the major banks. Millions of borrowers stopped making payments, and rather than foreclose on them, lenders decided to modify loans…
Wave of HELOC resets to cause 400% increase in delinquency


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