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Some HELOCs May Be at Elevated Risk of Default
Nearly 16 million U.S. consumers held approximately $474 billion in balances on home equity lines of credit (HELOCs) as of December 2013, according to a new study by TransUnion. The TransUnion study indicated that approximately $50 billion to $79 billion of those HELOC balances could be at elevated risk of default in the next few years. The study also demonstrated how several metrics could be effective at identifying pockets of risk among those borrowers and anticipating when that risk will arise.
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