November 21, 2014 | Updated 11:52am

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HELOC Resets A Problem? It Depends

Mass. Banks Ready; What About Borrowers?


The reset of millions of home equity line of credit (HELOC) loans across the country threatens to echo the default epidemic that sparked off the housing crisis. But just as Massachusetts escaped the most extreme highs and lows of the boom and bust, we will likely be spared a major default trough as decade-old HELOC loans begin to reset from interest-only payments to principle and interest. Massachusetts banks appear to be well-prepared for the reset process. The question is whether borrowers are ready.

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