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Home » Underwater Defaulters Keep HELOCs Current, Little Progress Made on Second Lien Mods
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Underwater Defaulters Keep HELOCs Current, Little Progress Made on Second Lien Mods

December 23, 2010
A large number of borrowers who stopped paying their first lien obligations because they had negative equity remain current on their home-equity lines of credit, according to new research by the Federal Reserve Bank of Philadelphia. While borrowers have economic incentives to keep...[Includes one data chart and one graph]
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