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Why equity-tapping challenges may make reverse mortgages ‘inevitable’

Housing Wire

Tapping into home equity , particularly for people in or near retirement , can be challenging — especially for those who may have a pressing need. With this product, eligible people 62 and older can extract equity in a variety of ways, say through a lump sum. But their equity is also a tool. Homes are trophies, sure.

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Home equity remained near historic highs to end 2023

Housing Wire

homeowners with mortgages saw their home equity increase by 8.6% trillion, according to CoreLogic ’s newest homeowner equity report. Net homeowner equity totaled more than $16.6 Rhode Island posted the country’s highest annual equity gains of $62,000, followed by New Jersey ($55,000) and Massachusetts ($53,000).

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Equity surge boosts homeowner net worth by $208K: John Burns 

Housing Wire

As home prices rose steadily, homeowners also accumulated significant equity. trillion in home equity at the end of 2023, up from $15 trillion in 2006, the previous peak of the housing cycle. At a more granular level, the study shows that home equity increases benefits to buyers across all segments. Overall, U.S.

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Home-equity lending blossomed in 2023

Housing Wire

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. homeowners with outstanding mortgages — some 63% of all homes — home equity tied up in properties jumped by 6.8%

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Legacy Group Capital acquires home equity investment fintech Rook Capital

Housing Wire

Bellevue, Washington-based real estate investment firm Legacy Group Capital announced this week that it has acquired fintech company Rook Capital , a provider of home equity investment (HEI) products through its “Shared Value Investment” brand. Legacy is privately owned and terms of the deal were not disclosed. “As

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Teraverde CEO Jim Deitch on finding ways to monetize home equity

Housing Wire

The dismal 2024 mortgage market has one very silver lining: $32 trillion in home equity. Compare that with $30 trillion in financeable equity — it dwarfs it. You have to think about how you monetize that equity,” Deitch said. You have to think about how you monetize that equity,” Deitch said. “So,

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Hometap reaches $1B in home equity investments 

Housing Wire

Boston-based fintech company Hometap has deployed more than $1 billion in home equity investment (HEI) products since its launch in 2017, the company announced on Tuesday. homeowners with outstanding mortgages, or some 63% of all homes, equity tied up in real estate jumped by 6.8%

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