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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (97983)12/20/2007 5:23:04 PM
From: Lizzie TudorRead Replies (2) | Respond to of 306849
 
9. Another ticking time bomb I had not heard of: some HELOCs have a provision in which if the value of the house falls a certain amount, the loan converts to a fixed 15-year amortization loan AT 18 PERCENT.


I have never heard of this, but I would think that this would be one of the predatory practices that won't continue. It doesn't pass the smell test.


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