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Saturday, Feb 9
Despite nearly 11M borrowers being underwater on their mortgages, home equity lines of credit...
Despite nearly 11M borrowers being underwater on their mortgages, home equity lines of credit are suddenly on the rise again. During the housing boom, Americans used their homes like an ATM, withdrawing over $1T in home equity before the bubble burst. JPMorgan Chase says they've already seen a 31% jump in HELOC's over last year, and with home prices up another 8% year-over-year in December, the trend appears likely to continue unabated.