Do you own a HELOC that originated between 2004-2009? Be prepared for higher payments. Over 75% of HELOCs (Home Equity Line of Credit) originated between 2004 and 2009. According to Lender Processing Services, the vast majority of these will amortize over the next couple of years. The first warning shot will be for 2004 HELOC borrowers. A good number of 2004 borrowers have been paying interest-only for the last 10 years. Depending on the situation, some will have balloon payments due, or their payments will rise to get the loan paid off in 30 years. Some will be able to refinance, but it will be harder to qualify versus the boom time of 2004. Payments may double in some cases.

Don't be caught unaware. Check with your loan servicer on your specific situation and options well ahead of time.