Recently, RealtyTrac performed an analysis of open home equity lines of credit (HELOC) that originated during the 2005-2008 housing bubble. They found that there were nearly 3.3 million HELOC’s scheduled to reset at fully amortizing monthly mortgage payments during the years 2015 through 2018. They also found that over 1.8 million of the resetting HELOC’s were on homes that were seriously underwater.
The graphic below shows markets with the most resetting HELOC’s both by sheer number of HELOCs scheduled to reset (size of the bubble) and by the percentage of resetting HELOCs that are on homes seriously underwater (color of bubble). The map shows metropolitan statistical areas with populations of 200k or more.
Click here to read more on RealtyTrac.
