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Tag >> home equity loans
Aug 12

Time to stop subsidizing home prices

Posted by Stephen Taub in Riskmortgagesmortgage foreclosuresline of credithome equity loansCash

Stephen Taub

The report in the New York Times today about the huge amount of home equity loans that have been written off or barely paid back is very disturbing, and a stark reminder about a major reason the entire globe continues to feel the effects of the mortgage crisis.

It is also a reminder that this crisis was not just caused by sub-prime mortgages, but also by greed among the many people who took out the mortgages and loans to buy boats, luxury cars, extensions on their homes and expensive colleges.

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