Re: HELOC Delinquencies Increasing...

They promise people you can refinance at a lower interest rate when the note balloons. If they don't let them refinance after ten years of paying on the note they must want the houses back, so they can resell them to somebody else. This is not going to hurt the banks. It is loan sharking. It is a bank scam to rent houses for ten years to people who are looking to buy, and then repossess the houses so they can sell them at a higher price when the real estate values have gone up. If they will have so many to resell, it drives the prices down some, they will just scam a whole bunch more people. The banks cannot be hurt. As long as people are doing business and needing a place to live that has running water and electricity, they will see to it the houses they own/manage have such, so they can keep raking in money and stealing houses back from people by refusing to refinance.