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New wave of US mortgage trouble threatens

Home equity lines of credit could deal another blow to nation's top banks

Heavy burden: The big US banks have more than US$10 billion of home equity lines of credit on their books each, and in some cases much more than that. - PHOTO: AFP

[NEW YORK] US borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country's biggest banks. The loans are a problem now because an increasing number are hitting their 10-year anniversary,

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