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America’s book of closed-end home-equity loans outstanding exceeds 8 million loans, and more than a million are secured by California properties.
Data provided by ATTOM indicate that there are 8,332,303 closed-end HEL second mortgages outstanding in the U.S. That works out to roughly 13 percent of all residential loans outstanding.
In California, HELs outstanding number 1,084,688 — more than any other state. Florida followed with 593,044 open HELs.
After that is Texas with 409,321 loans, Pennsylvania at 407,750 HELs outstanding, and New York, where 393,312 second mortgages are open.
At the other end of the spectrum is Vermont, where ATTOM indicated just 2,186 HELs are outstanding.
