Homeowners are sitting on a record $6 trillion in equity. Why aren’t they using it? Rising interest rates are making lines of credit more expensive... and Americans may still be leery of cash-out refis American homeowners have amassed a record $6 trillion in equity in their properties, a figure boosted by surging home prices and … Continue reading Are you sitting on Home Equity?
How I Used My Home Equity to Pay Off My Credit Card Debt (Image credit: PM Images/Getty Images) Share Email 23 Two years ago, I got divorced. Because I needed cash to pay my lawyer, I put my everyday expenses on a credit card. Before I knew it, between what I charged and the high … Continue reading Refi, Home Equity Loan or HELOC to pay down debt?
~ Now just because you can doesn't mean you should, if you are thinking about it give me a call or your lender so you can make sure it is a sound decision ~ How to use your home as a source of cash Homeowners are currently sitting on a record amount of cash in … Continue reading You Can Use Your Home as Cash
From LA Times 11/30/14 Homeowners’ equity holdings nationwide are up sharply and interest rates are near historical lows, leading to more home equity borrowing. Above, homes in Mission Viejo. (Mark Boster / Los Angeles Times) If you're thinking about taking out a home equity line, you're hardly alone. Credit lines tied to home equity — … Continue reading More owners tapping home equity lines of credit
Significant Amount HELOC Balances May Be at a High Risk of Default From DSNews.com 8/11/14 A recently released study by TransUnion Corp. reported that approximately $50 billion to $79 billion in outstanding Home Equity Lines of Credit (HELOC) balances reported at the end of 2013 could be at a high risk of default in the … Continue reading Watch Your HELOCs