#home-equity

#home-equity

Guild Mortgage introduces the Flex Payment Mortgage, enabling seniors to access home equity without needing to sell or affecting their social benefits.

Senior-held home equity has decreased due to a drop in home values and rise in mortgage debt, highlighting concerns for older homeowners' financial stability.

Reverse mortgages offer flexibility in accessing home equity without the need to downsize.

Senate Bill 534 aims to increase transparency for seniors regarding home equity contracts to protect them from hidden fees.

Retiring at 65 may lead to financial shortfalls for many American households.

Understanding reverse mortgages can provide essential cash flow for retirees.

The limit for federally backed reverse mortgages is increasing to $1,209,750 in 2025, enhancing access for older homeowners.

Home equity reached an all-time high of $35.1 trillion, significantly increasing from previous years, indicating wealth accumulation among homeowners.

EasyKnock, a company offering controversial sale-leaseback deals, has abruptly shut down amid numerous lawsuits and investigations.

Homeowners average a $25,000 gain in equity, leading to increased wealth and financial options.

Home equity rose but growth is slowing down, with significant average gains per homeowner.

HomeLight raised $20 million to expand its services for mortgage lenders and real estate agents across 40 new states.

Home equity agreements (HEAs) offer homeowners access to cash from their home's equity without taking on debt.

HEAs come with potential upfront costs and a share of the home's future appreciation is given up.

They are ideal for homeowners seeking cash without loans, but home equity loans provide more ownership and flexibility.

UWM launches a new cash-out loan with 90% LTV and no mortgage insurance, capitalizing on increased equity and competitive refinancing market.

LoanDepot expands home equity options to help borrowers lower payments without affecting mortgage rates.

loanDepot's new first-lien HELOC allows homeowners without a mortgage to access home equity with flexible terms, addressing financial pressures.

Better has appointed Patrick Kandianis as VP of business development to enhance partnerships and focus on the home equity market.

Kandianis brings over 20 years of experience in lending sales, aiming to bridge partnerships and business development at Better.

The sandwich generation faces significant financial and caregiving burdens while balancing the needs of aging parents and adult children.

Refinancing can help lower monthly mortgage payments but requires careful consideration of closing costs and break-even points.

Homeowners hold $17 trillion in equity, worth an average gain of $28,000, suitable for improvements without immediate need.

Home equity loans and HELOCs are viable options for funding college costs, but they come with significant risks that should be carefully considered.

Home equity is crucial for addressing long-term care costs in retirement planning.

Homeowners reached an all-time high of $32 trillion in home equity in early 2024, driven by rising home prices.

Baby boomers possess $17 trillion in home equity, indicating significant intergenerational wealth transfer opportunities.

Miami homeowners benefit from rising home equity, but face soaring property taxes, complicating the housing affordability crisis post-pandemic.

Homeowners currently have $35 trillion in equity, double pre-crisis levels, with older homeowners increasingly accessing this wealth for retirement.

Homeowners have gained significant equity, averaging $147,000 over the past five years, indicating a stable housing market.

Homeowners have gained significant equity since 2019, with a typical increase of $147,000 over the past five years.

Finance of America reported $15 million in adjusted net income for Q3 2024, marking a successful recovery and improved operating performance.

Strategic initiatives over the past year have led to positive metrics across the board for Finance of America.

FHA increase in HECM limit enhances borrowing options for homeowners, though opinions on its impact amid high interest rates vary.

Dave Ramsey warns against reverse mortgages due to high fees and risk of losing home.

Rate strengthens leadership in its reverse mortgage division to cater to older borrowers.

Jesse Allen and Greg Pahel appointed to enhance consumer-directed reverse mortgage strategies.

Finance of America reduces interest rate on HomeSafe Second reverse mortgage and expands its availability, indicating a shift towards more accessible home equity solutions.

Knowing how much to have saved by retirement age is crucial for financial security.

Lisa advocates for selling their home to invest proceeds, enabling early retirement and increased travel, whereas Mark favors staying in their fully owned property for security.

Cornerstone Financing has raised $285 million for its innovative home equity product CHEIFS, aimed at improving retirement financing solutions through strategic partnerships.

Mortgage debt in retirement can be a financial trap for seniors, impacting their financial security and retirement plans.

Home equity wealth for senior homeowners exceeds $14 trillion, necessitating adaptation of mortgage professionals to meet demand.

Home equity is a significant portion of net worth for homeowners, varying among different demographic groups.

Refinancing can provide extra funds, but careful consideration of costs and goals is crucial.

Foreclosures expected to rise slightly in the second half of 2024, but home equity likely to prevent many properties from moving into foreclosure status.

FHA Commissioner Julia Gordon emphasizes the growing importance of the HECM program for financially unprepared seniors.

Montana's RAM program effectively supports seniors by providing lower-cost reverse mortgage options,

HELOCs are a good option for homeowners, especially seniors, to access cash without selling their home.

Originators must seek innovative ways to serve borrowers and grow business in a competitive mortgage market with high prices and interest rates.