#home-equity

#home-equity

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.

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.

Older homeowners' collective home equity rose to $14 trillion, emphasizing the importance of this wealth in retirement planning.

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.

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

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

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

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.

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

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

Hometap offers homeowners a way to access home equity without monthly payments, solving a common financial constraint.

Ruoff Mortgage collaborates with Calque to facilitate home buying with programs that ease selling current homes before purchasing new ones.

Homeowners are actively refinancing or tapping into equity due to lower interest rates and higher home valuations.

Careful evaluation of the risks is crucial when considering equity loans for market investment, especially in volatile conditions.

The decision hinges on weighing short-term market potential against long-term financial stability.

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,

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

Premier Plus Lending is launching a new division focused on reverse mortgages and home equity solutions for seniors.

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.

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

Unlock Technologies has raised $30 million in Series B funding to enhance its home equity agreement offerings for homeowners seeking financial flexibility.

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.