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Article: Home equity line delinquencies, foreclosures remain low.
- Article from:
- PR Newswire
- Article date:
- October 27, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOME EQUITY LINE DELINQUENCIES, FORECLOSURES REMAIN LOW
ARLINGTON, Va., Oct. 27 /PRNewswire/ -- Home equity lines of credit (HELCs) continue to experience exceptionally low rates of delinquencies (late payments) and foreclosures as of Sept. 30, 1989, according to a new survey by the Consumer Bankers Association.
Home equity lines delinquent more than 30 days were an average of 0.64 percent of total HELCs at 138 reporting banks and thrifts. The average outstanding credit was $20,192. The delinquency rate, as measured as a percent of dollars outstanding, was 1.22 percent.
The rate for loans delinquent more than 90 days was 0.12 percent, or ...