Default risk rises on 20 percent of boom-era HELOCs These home-equity lines of credit are in line for a payment jump, TransUnion says. As much as 20 percent of home-equity lines of credit worth $79 billion are at increased risk of default as their payments jump a decade after the loans were made during the U.S. housing boom, according to TransUnion Corp. Borrowers face rate shocks as payments on the credit lines, known as HELOCs, switch from interest-only to include principal, causing monthly bills to surge more than 50 percent, according to a report today by the Chicago-based credit information company. realestate.msn/blogs/post--default-risk-rises-on-20-percent-of-boom-era-helocs
Posted on: Mon, 11 Aug 2014 21:19:19 +0000
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