Welcome to the DevoreRealtyGroup.com Blog

2012-07-22 08:57:39
Do you have a home equity line?

If so, then this post is for you!

If you have a home equity line of credit, then you may be one of the many Americans whose payment is about to increase. 

According to an article in the New York Times, the time is quickly approaching when borrowers will be forced to start paying principal on top of the interest they have been paying.  Over the next few short years, about 60% of these loans will start requiring both principal and interest payments.  

Will borrowers have the ability to pay this increased amount?  If not, will they have sufficient equity to be able to refinance their loan or will they be underwater?  What will this do to the already shaky economic recovery underway? 

The article goes on to say that this could have been avoided had the government intervened when it created loan modification programs for first trust deeds.  However, as we have seen in the “real world,” these equity lines are turning into unsecured debt that is turning into toxic loans for the lenders.  

Only when the lenders begin to drastically reduce the balances owed on these loans will borrowers start seeing the light at the end of the tunnel. 


Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

North San Diego County and Carlsbad Real Estate


                • Search for your next home on our website
                • Learn more about Rancho Carrillo in Carlsbad, CA
                • Like” our Facebook page
                • Follow us on Twitter
                • View our listings on YouTube
Blog Archive
2017-04-21 06:42:10
Why are renters staying put?

2017-04-20 06:49:29
Homeowner Value Estimates vs. Appraisals

2017-04-09 07:26:48
San Diego 8th Hottest Real Estate Market

2017-04-03 13:29:11
8 Questions to Ask When Deciding to Rent or Buy

2017-03-31 17:41:05
San Diego rent prices vs. home prices

2017-03-24 13:33:28
Preparing Your Budget for Buying Your First Home

2017-03-24 10:02:40
San Diego home prices dip in February

2017-03-15 17:54:30
County Housing Patterns Shifting

2017-03-03 11:32:47
Where millennials want to live might surprise you

2017-02-27 13:41:52
Misleading Math Behind the Rent vs Buy Calculation

2017-02-24 10:38:59
Older Americans Face Challenges Aging in Place

2017-02-21 15:12:32
Moving Less in U.S.: American Dream Takes a Hit

2017-02-07 13:52:11
Millennials, Housing, and the American Dream

2017-02-01 11:50:46
20 Hottest Markets for U.S. Real Estate in January

2017-01-31 18:13:12
January, February Prime Months to Purchase a Home

2017-01-26 14:47:42
Home Buyer Challenges for 2017

2017-01-19 12:21:59
Nation's Priciest House: $250M

2017-01-13 14:17:03
Are local housing's price gains real?

2017-01-13 12:06:22
Housing Outlook 2017: Eight Predictions

2016-12-30 11:05:38
Trump Win Could Usher in Boom for U.S. Housing

2016-12-19 18:12:11
Is the Starter Home Coming Back?

2016-12-19 17:28:35
Interest rate increased, where will consumers feel

2016-12-19 16:47:51
Step Aside HAMP, There's a New Kid in Town

2016-12-08 17:45:40
Marketwatch Report November 2016

2016-12-08 17:10:21
FHA Loan Limits To Rise in 2017

Click here to see ALL articles.

Comment on this Article

Your Name:
Your Email:
Verify:  Please enter the numbers shown to help eliminate spam.