What To Do When HELOCs Reset & Break Your Budget

Previously on Big Money Real Estate, Ilyce looked at the impending financial strain for homeowners who took out a home equity line of credit during the height of the real estate bubble. Those loans are about to reset with much higher payments, which could lead to defaults for anyone who hasn’t been able to budget ahead. Greg McBride, Chief Financial Analyst for Bankrate, talks with Ilyce about what to do if resetting HELOC payments are about to break your budget.