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Home equity loan vs. HELOC – What’s the difference?

Housing Wire

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. Home equity loans and home equity lines of credit (HELOCs) are both loan products that are secured by the equity on a borrower’s home. Read on to find out.

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

Housing Wire

Make sure you research your options, said gerontologist Nancy Schier-Anzelmo, principal in Alzheimers Care Associates in an interview with Yonder. As we get older its hard to make new friends and thats why its important to find your tribe those people who are at the same stage of life and have the same life experience as you do.

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Why equity-tapping challenges may make reverse mortgages ‘inevitable’

Housing Wire

Tapping into home equity , particularly for people in or near retirement , can be challenging — especially for those who may have a pressing need. With this product, eligible people 62 and older can extract equity in a variety of ways, say through a lump sum. But their equity is also a tool. Homes are trophies, sure.

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Cash-out refis are in high demand as equity levels skyrocket

Housing Wire

Record home price appreciation in recent years has pushed tappable home equity to new heights. According to a report published by data vendor Black Knight this week, the third quarter of 2021 saw a nearly $250 billion dollar increase in tappable equity—a record. of available equity entering the quarter, the report said.

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Rithm expects ‘normalized’ refi levels to return after Q3 spike

Housing Wire

This resulted from a portfolio of $878 billion in unpaid principal balance (UPB), including $755 billion in mortgage servicing rights (MSRs) owned by the company. Candidly, we have to figure out a way to get our equity price to trade where it should,” Nierenberg told analysts. “So, billion without raising any equity. “As

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The biggest challenge for the reverse industry in 2024? Mortgage rates

Housing Wire

With Home Equity Conversion Mortgage (HECM) volume declining on an annual basis, many industry participants cited at least one key factor that couldve driven the decline, but the view was not universal. We’re expanding our reach, becoming a principal agent in a lot of states, Moriello said.

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Newrez parent Rithm Capital posts 57% profit growth in 2024

Housing Wire

Around the same time , Rithm also struck a $720 million deal for Computershare Mortgage Services and its subsidiary, Specialized Loan Servicing , which brought $136 billion in unpaid principal balance (UPB) to Rithms servicing book. Sculptor added another $1 billion in assets during the past year, according to the 2024 earnings report.

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