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Homeowners have a collective $700B in ‘trapped’ equity

Housing Wire

More than $700 billion in home equity is effectively trapped and inaccessible to homeowners due to a variety of economic circumstances, including employment shocks and shifts in the market that negatively impact their credit scores. This exacerbates existing barriers to credit and access to home equity. Census Bureau.

Equity 363
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Retirees may be turning to home equity to finance healthcare shocks: report

Housing Wire

While many retirees often do not intend to tap their home equity to finance such moves, they may often end up doing so. But they remain largely exposed to LTC expenditures, leading some to go against their expectation and to tap their homes equity to cover these costs. Such shocks also lead to reductions in expected bequests.

Equity 358
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Saluda Grade hires Jim Boothby to lead business development efforts

Housing Wire

Saluda Grade , an alternative investment firm with a focus on residential real estate finance, announced this week that it hired Jim Boothby as its head of global business development. Boothby has more than 25 years of experience in credit , business development and investor relations. It grew its assets under management from $1.2

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FHA borrowers would get mortgage insurance relief through proposed House bill

Housing Wire

House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Mortgage insurance exists as protection from foreclosure on low equity loans. Introduced by Reps.

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EasyKnock acquires home equity investment company HomePace

Housing Wire

Residential sale-leaseback platform EasyKnock has acquired the assets of home equity investment firm HomePace , the company exclusively told HousingWire on Monday. HomePace, founded in 2020, specializes in helping homeowners access their equity through home equity agreements. Meanwhile, more than 9 million U.S.

Equity 476
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With lower costs and other value, rural areas are enticing for older homebuyers

Housing Wire

And while it seems that this is a tactic for elders to avoid high costs, high crime and over development, those who keep an eye on who moves where in America say it has been happening off and on for decades. But the potential value for older homeowners is not strictly monetary, the article said. This is Mayberry.

Equity 413
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Fairway announces ‘hybrid e-closings’ for reverse mortgages

Housing Wire

Department of Housing and Urban Development (HUD) rules still require such signatures on certain documents, the company explained. Broader tech integration E-closings are also being integrated into other loan products the company offers, including home equity lines of credit (HELOCs), second liens and bridge loans.

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