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Message
re: Wells Fargo suspends new HELOC loans
Posted on 12/5/23 at 3:42 pm to billjamin
Posted on 12/5/23 at 3:42 pm to billjamin
quote:
In summary, what we are witnessing is the largest policy error in market history.
I would imagine that this means that homeowners who borrowed up to 80% of their LTV 1-2 years ago now owe 100-110% of the present day value and they're defaulting on their payments, so WF is royally screwed until rates fall or prices rebound.
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