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Opinion: How did homeowners get into home equity prison?

Housing Wire

As the person relaxes on the couch watching television at night, they occasionally check the current value of their home and do a rough calculation of the amount of equity that they have accrued. Stated differently, you are dealing with individuals that may be in an equity prison. It comforts them for a brief moment.

Equity 431
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Exploring Alternatives to Bankruptcy: Financial Options for Homeowners

Realty Biz

If you’re struggling financially and unable to pay your bills, you may have considered filing for bankruptcy. Filing for bankruptcy gives you a fresh start, but it stays on your credit report for up to 10 years — resulting in consequences for years to come. However, there are risks to using home equity for debt repayment.

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The 2022 housing market: A tale of two halves

Housing Wire

They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 trillion in the second quarter of 2022, capitalizing on home equity loans and home equity line of credit (HELOC).

Equity 522
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Rocket lost money last year, so why are its shares up?

Housing Wire

In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. To court more clients, Rocket launched products targeted at accumulated home equity levels and potential homebuyers who face affordability challenges. The BUY+ program provided borrowers a credit equal to 1.5%

Equity 409
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Redfin losses soar amid iBuying ramp up

Housing Wire

Redfin plans to completely revamp its mortgage services in 2022 following the expected acquisition of Bay Equity Home Loans in the second quarter. He repeatedly mentioned that the company had fallen into bankruptcy and was “not on track” to even make a profit before subtracting operating expenses.

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Non-QM lenders are racing to stay ahead of rates

Housing Wire

FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Real estate agents and their clients also received no advance warning and multiple deals fell through as a result, sources told HousingWire. Non-QM lender First Guaranty Mortgage Corp.

Lending 381
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How to Train Your Real Estate Agents to Sell in a Challenging 2023 Market

The Close

The challenge of being a real estate broker today is keeping your agents selling and productive in this shifting and changing market. Thankfully, you can train your real estate agents to make this sales shift. And with less equity, sellers are more focused on paying their mortgage than moving up into a larger house.

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