Aug 20 2009
Home Equity Loans: $674 Billion in Total Loans. When The Household ATM Goes Out of Order. First, Second, Third, Fourth, and Even Fifth Mortgages.
Home equity was once seen as a cushion for a rainy day. People built up home equity as a means of paying off their home loan and saw it as a source of security. The days of the mortgage burning parties were all but lost in this housing bubble. The roots of the housing bubble [...]
