More Homeowners Tap Equity Juiced by Soaring Prices
Homeowners are increasingly tapping their equity, taking advantage of big gains following years of soaring housing prices.
HELOCs Could Be Huge Advantage for Lenders if They Can Increase Awareness
Home equity lines of credit could be a major opportunity for lenders in coming years because many homeowners simply don’t know what they are.
Lenders Lean On Reputation in Face of Mortgage Contraction
Despite a contracting mortgage market, some leading providers of loans guaranteed by the U.S. Department of Veteran Affairs and Federal Housing Administration managed to retain their positions in these categories, according to a new report from The Warren Group, publisher of The Commercial Record.
More Americans Are Choosing Not to Tap into Their Home Equity
American homeowners are doing something surprising: Despite record amounts of home equity available to them – an estimated $1.5 trillion – they are tapping into it less via home-equity credit lines and cash-out refinancings. The question is: Why?
Doomsday Predictions Over Tax Cuts Have Not Come True – Yet
What if Congress passed a massive tax bill with scary cutbacks in deductions for homeowners – prompting dire predictions of mass property-value declines – but nothing much happened?
Home Renovation Spending Strong in Q1, Expected to Continue
The robust pace of spending on home renovations and repairs is expected to stay strong over the coming quarters, according to the Leading Indicator of Remodeling Activity released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Equity-Affluent Americans Have Options for Tapping into Funds
Americans are awash in record amounts of equity in their homes, posing the question for millions: So what do we do with it?
Taxpayers Get Good News on HELOCs
It’s official: Despite widespread fears to the contrary, the IRS has clarified that last year’s big tax bill did not kill all interest deductions on home equity lines of credit (HELOCs) and equity loans.
CFPB Increases HMDA HELOC Reporting Threshold
Community banks and credit unions will enjoy some regulatory relief after the Consumer Financial Protection Bureau yesterday amended the Home Mortgage Disclosure Act to up the reporting threshold regarding home equity lines of credit.
CFPB HELOC Update A Boon For Credit Unions
Many credit unions will no longer have to report home equity line of credit (HELOC) data to federal regulators after the U.S. consumer watchdog agency earlier this week vowed to raise the reporting threshold.
Cash-Out Refinancings On The Rise, Just Like In 2008
They’re either a valuable financial tool for homeowners or a harbinger of trouble on the horizon: Cash-out refinancings, which were wildly popular during the housing boom years and contributed to the severity of the crash, are on the rise again.
