Quote:
Originally Posted by JohnnyHowDoO'duya
so clients with existing HELOC's will see their limit decreased or this is only for new applicants?
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It seems like it would have to be for new loans, or maybe a timeframe for existing HELOCs to get paid down to 65%. Otherwise, someone with a total LTV of 80% on a 400k house has to come up with a 60k payment right away, which would be a problem for most people, I suspect.