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Home equity gains slowed in Q3. Are prices stabilizing?

Housing Wire

mortgage holders experienced a home equity increase in the third quarter of 2024 up 2.5% But that was down from 8% growth in the second quarter, and negative equity also ramped up for the first time in two years, according to a CoreLogic report. But CoreLogic noted that negative equity actually declined by 3% from Q3 2023.

Equity 396
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Home equity access: How Finance of America bolsters the market with home equity products

Housing Wire

However, homeowners have a unique advantage with home equity products—designed to let residents tap into their home’s equity for cash. Mortgage professionals must keep up with the new demand for home equity products in the new market. That growth presents an opportunity for reverse mortgages and home equity loans.

Equity 369
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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 344
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Aging in place, high equity impact moving activity

Housing Wire

We’ve seen a lot of baby boomers staying in their houses because they’ve gained a lot of equity and don’t want to have to pay capital gains taxes, she said. This is a really great strategy, because if your kids inherit your house after you pass away, they could sell the property tax-free.

Equity 393
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Senior-held home equity falls in Q4 2024

Housing Wire

Following a rise to an all-time high in the second quarter, senior-held home equity saw a modest decline in the third quarter and endured a more severe drop in the fourth quarter. Homeowners 62 and older saw their collective home equity levels drop by 1% in Q4 2024 to a total of $13.95 home equity. This is encouraging news.

Equity 298
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Reverse mortgage alums secure financing for alternative equity-tapping product

Housing Wire

The funding will go to support the company’s specialty home equity-tapping product known as the Cornerstone Home Equity Insurance/Investment Funding Solutions (CHEIFS). The product operates similarly to a shared equity investment. CHEIFS is currently available in four states: Arizona , California , Florida and Pennsylvania.

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 328