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Notes to myself, possibly of interest to others.
-- Bill Northlich

Tuesday, September 7, 2010

YADL - Yet Another Disaster Looming: This time in HELOC's

...most of the $321 billion in HELOCs loans owned by the "too big to fail" banks are probably worth no more than a few thousand dollars each if the borrower defaults. A growing number of HELOCs where the property has already been foreclosed and repossessed by the banks are worth perhaps $500 each.
---Keith Jurow at Minyanville

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