"About 9% of homeowners with a mortgage experience either a job loss, a reduction in pay or a transition to self-employment within a given year."
"Homeowners facing a negative credit shock collectively hold an estimated $731 billion in home equity that they may be unable to access due to credit constraints."
The article discusses how persistently high interest rates and non-traditional career paths have created significant barriers for homeowners seeking to access their home equity. With around 9% facing job losses or transition to gig work yearly, many are experiencing negative credit impacts, restricting their borrowing options. It notes that an estimated $731 billion in home equity is tied up due to these constraints at a time when homeowners need it most. The evolving economic landscape prompts the industry to adapt and find new financial solutions for affected homeowners.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]