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Tag Archives: HELOCs
California is Wasting Mortgage Relief on HELOC Abusers
WTF? Why would we want to bail out people who were abusing their HELOCs after the property crash? Have we learned nothing? Are houses and HELOCs truly free money? Continue reading
Posted in Fresh Perspectives, Home Economics, Mortgage News
Tagged california, HELOCs, Loan Modifications, negative equity
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Foreclosures Essential to Economic Recovery
Giving borrowers a pass is not the answer. No matter how you cloak it, any bailout that does not have the borrower endure the consequences of their mistakes is going to result in moral hazard and continued bad behavior among borrowers and bankers. Continue reading
Posted in Foreclosures, Fresh Perspectives, Home Economics
Tagged Foreclosures, HELOCs, Home Prices, Recovery
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Accepting That Housing Prices Will Not Go Back Up
Hope springs eternal, and denial rules downtrodden financial markets. However, locally it appears that housing market watchers are beginning to accept that house prices will not be going up soon. Continue reading
Posted in Fresh Perspectives, Social Mood Swings
Tagged HELOCs, Home Prices, Housing Bubble
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Some Borrowers Never Intended to Repay Their Loans
With the huge amount of second mortgage and HELOC debt still on the books of major banks, they are still insolvent. Despite the Federal Reserve stealing from savers and giving the money to banks — which is the net effect of zero percent interest rates — it will take many more years before banks have made enough money to fully write down the losses on this part of their portfolios. It also suggests that the Federal Reserve may maintain zero percent interest rates for a very long time. Welcome to Japan. Continue reading