As consumer debt reaches alarming levels and living costs rise, Splitero announced a $350 million investment commitment by Blue Owl Capital, enhancing home equity access.
Splitero founder, Michael Gifford, stated, 'This investment allows us to ensure that more homeowners can access their home equity to secure their financial future,' highlighting the company's mission to expand homeowner finances.
Blue Owl's Ivan Zinn expressed enthusiasm for the partnership, saying, 'We look forward to seeing Splitero's continued success and helping support them in this next phase of growth,' emphasizing mutual goals for capital access.
According to the latest data, U.S. mortgage holders hold $17.2 trillion in equity, with $11.2 trillion considered tappable, reflecting the potential for home equity solutions amidst rising living costs.
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