By Emma Patch From Kiplinger’s Personal Finance For the nearly two-thirds of Americans who own a home, tapping into home equity can be an affordable and flexible way to borrow money. One way to do that is through a home equity line of credit or HELOC. HELOCs allow homeowners to borrow from their home equity…
NTD Business (Feb. 13): Gov. DeSantis Unveils Proposal to End ESG Banking; Home Equity Loan Cost Up $200 per Month: Analyst
Homeowners are increasingly taking advantage of the record levels of tappable home equity amid a dramatic rise in home equity loans. What are they using the money for, and what are the risks? Deepfake news anchors are being generated by artificial intelligence. Pro-Beijing bots have been pushing them on social media, where they repeat Communist Party narratives. Find…
Using Home Equity Credit? What Not to Do
January 23, 2023
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A home equity line of credit (HELOC) uses your home’s equity to finance a variable interest-rate loan. You wouldn’t have the money upfront like you would a conventional loan. Instead, you draw against your line of credit. With a HELOC, your home is your collateral. There are times a HELOC is a worthwhile mechanism. But…
Home Equity Scams
Homeowners beware. These days, home loan scam artists are lurking around every corner. They’re hungry, they’re determined and they’re coming after your equity. Unscrupulous loan peddlers are known as predatory lenders because of their uncanny resemblance to vultures. These loans encourage people to consolidate their debts and suggest this will prevent them from ever overspending…
American Homeowners Lost $1.3 Trillion in Home Equity in the Third Quarter
November 9, 2022
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In the third quarter, the market lost $1.3 trillion, or 7.6 percent in equity, as home values nationwide began to fall. This marked the largest quarterly decline on record, according to Black Knight, a mortgage software and analytics company. Following the unprecedented real estate boom of the last two years, signs of a slowing housing…
Homeowners See Slower Equity Gains as Housing Market Cools
LOS ANGELES—Homeowner equity climbed to record highs in the first half of this year, though its rate of growth is slowing as the housing market cools. Average homeowner equity per borrower reached $298,380 in the second quarter, according to data from CoreLogic. That works out to $3.6 trillion in equity gained by U.S. homeowners with…
3 Reasons Not to Tap Your Home Equity Right Now
August 24, 2022
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Soaring real estate values mean many homeowners are awash in equity—the difference between what they owe and what their homes are worth. The average-priced home is up 42 percent since the start of the pandemic, and the average homeowner with a mortgage can now tap over $207,000 in equity, according to Black Knight Inc., a…
Home Equity in America Hits Record $27.8 Trillion
Total U.S. home equity has surged to a record $27.8 trillion, according to the Federal Reserve. The Fed report showed an increase of nearly 20 percent in the first quarter of 2022, the Wall Street Journal reported. The uptick is a by-product of a scorching housing market. Data from real estate analytics firm CoreLogic indicated…
Second Mortgage: What Do You Need to Know?
When you include a down payment with your mortgage loan to pay for a new home, those funds you included are your investment in your home. In order to reduce your mortgage payment as much as possible, your down payment is perhaps as large as you could afford. For most home buyers, the down payment…
Canada-US Relationship Has Never Been ‘So Weak’: O’Toole
Conservative Party Leader Erin O’Toole says the Canada-U.S. relationship hasn’t been at such a low point in decades, saying it jeopardizes the Canadian economy and several of its key sectors. In an interview with The Epoch Times, O’Toole said Canada’s influence as a strategic trading partner has been weakened with its southern neighbour, putting the…
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