Why HELOC Resets Will Undermine Any Housing Recovery

by Keith Jurow, Capital Preservation Real Estate Report, (Posted originally at Advisor Perspectives 16 December 2013) For three years, I have been writing about the looming home equity line of credit (HELOC) disaster. The media pundits paid little attention. Then a Reuter’s article about HELOCs resetting to fully amortizing loans appeared last month. Finally some …

New Mortgage Modification Program Can’t Stop Further Housing Collapse

Written by Keith Jurow, Capital Preservation Real Estate Report Here We Go Again On March 27, 2013, the Federal Housing Finance Administration (FHFA) announced the introduction of still another mortgage modification program. Entitled the Streamlined Modification Program, it was intended to enable distressed borrowers to more easily qualify for a modification. Unlike the HAMP modification …

Long Island: Housing Disaster Awaits

by Guest Author Keith Jurow, Minyanville Editor’s Note: The following is an excerpt from Keith Jurow’s just-released Long Island Housing Market Report. For the complete, in-depth analysis and report, download it here. The two counties of Nassau and Suffolk on Long Island comprise the largest suburban housing markets around New York City. Like the housing …

Consumer Credit: Healing but Still in Bad Shape

Consumer credit per capita is no longer declining according to the NY Fed in 1Q2011. But consumer credit has a long way to go to get healthy. The most rapidly growing area of credit is for student loans, an area that has come under increasing scrutiny for abuse plus lack of efficiency and effectiveness.