Standard & Poor’s said delinquencies on home – equity lines of credit issued in 2005 and 2006 shot up in March, underscoring continued trouble in the US economy. S&P said that 9.19% of lines issued in 2005 and 11.45% of loans issued in … You guys think that RMBS delinquency/charge-offs are bad for 1st mortgages? Look @ some 2nd mortgage deals…you ain’t seen nothin’ yet. So anyway, here’s how it works. 1. if the homeowner pays on the 1st mortgage but doesn’t pay on the 2nd …

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