Home Equity Loans: Borrowers Refuse To Pay Billions

08/12/2010 08:11 am ET | Updated May 25, 2011
  • DAVID STREITFELD nytimes.com

During the great housing boom, homeowners nationwide borrowed a trillion dollars from banks, using the soaring value of their houses as security. Now the money has been spent and struggling borrowers are unable or unwilling to pay it back.

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