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A recent study by TransUnion points to another mortgage bubble
The next mortgage bubble with pending HELOCs written in the mid 2000’s could spell opportunity for reverse mortgage lenders and originators alike. A recent study by TransUnion echoes what some mortgage experts have been warning us of in the last year: there is a coming HELOC bomb that could explode in the coming years. The study shows as of the end of 2013 nearly 16 million U.S. consumers hold over $400 Billion in Home Equity Lines of Credit. TransUnion estimates nearly 15 percent or up to $70 billion dollars of these accounts may be at risk of defaulting in the next few years. Even more sobering is the fact that more than half of these loans have balances of over $100,000…
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