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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.

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 357
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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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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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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.

FHA loan 418
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Home-equity lending blossomed in 2023

Housing Wire

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. homeowners with outstanding mortgages — some 63% of all homes — home equity tied up in properties jumped by 6.8%

Equity 488
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Home equity agreement firm Unlock completes $30M Series B round

Housing Wire

Home equity fintech Unlock Technologies has landed a Series B funding round that includes a $30 million investment by D2 Asset Management. Unlock, a provider of home equity agreement (HEA) contracts, claims it has experienced 98% year-over-year growth in the number of homeowners who chose its product.

Equity 433