US: HELOCs 95% losses on balance sheets...

[yoganmahew]

@xman

@Home Wrecker

Mortgage equity withdrawal = The act of selling your house at the price you paid for it and immediately buying it again at the current market price*.

People do not MEW their house to 100% LTV (Do they !!!)

I would’ve thought that the maximum LTV available to MEWers would be much lower than 100%??

Please tell me I’m right.

youtube.com/watch?v=nm3Q5aEoiG4
Watch and weep.

(OT so moved to a new thread).

edit: This one on Lehman Alt-A is also interesting:
youtube.com/watch?v=tebO2v3qBVY