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Home equity loan vs. HELOC – What’s the difference?

Housing Wire

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. Home equity loans and home equity lines of credit (HELOCs) are both loan products that are secured by the equity on a borrower’s home. Read on to find out.

Equity 529
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Is time the enemy of equity for chronically distressed homeowners?

Housing Wire

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years.

Equity 432
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Cash-out refis are in high demand as equity levels skyrocket

Housing Wire

Record home price appreciation in recent years has pushed tappable home equity to new heights. According to a report published by data vendor Black Knight this week, the third quarter of 2021 saw a nearly $250 billion dollar increase in tappable equity—a record. of available equity entering the quarter, the report said.

Equity 442
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The 2022 housing market: A tale of two halves

Housing Wire

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? “The The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. By September, a full-fledged housing market recession had set in. over asking price.

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Home prices hit new peaks in 30 of the 50 largest US markets: Black Knight

Housing Wire

Month-over-month, home prices increased in more than 60% of markets, with notable exceptions in Austin and San Antonio, where prices declined month to month in June on a seasonally adjusted basis. Rising home prices also boosted homeowner equity levels. Louis and Chicago up more than 4%.

Equity 370
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Homeowner Wealth Increases Through Growing Equity This Year

Keeping Current Matters

In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing , author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments: “The principal portion that reduces the loan balance builds the homeowner’s equity.

Equity 248
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The month in reverse mortgage rates: March 2024

Housing Wire

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. For this reason, I will provide a short monthly educational focus, followed by a summary of the HECM rate market. This has caused HECM principal limits to drop for new applications.

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