ilmscore | Prediction Details
"well what happens if we start to see home prices fall because we have seen that happen before and now if you can't sell your house for say $400,000 now you can be in trouble because you've spent a lot of your Equity if your home value drops down to let's say $300,000 but now you owe a $300,000 mortgage plus a $20,000 home equity line of credit now you're underwater"
By Minority Mindset | January 10, 2025 | Pending
From video
Why Homeowners Lose Money: 5 Mistakes You Can Avoid 00:03:59 - 00:04:25
Interpreted Prediction
If home prices fall significantly, individuals who have borrowed against their home equity through a HELOC may find themselves in an 'underwater' mortgage situation where they owe more than the home is worth.

Prediction Details

Topic
Home Equity Line of Credit (HELOC) Risk

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