Items Tagged with 'Home equity'

ARTICLES

  • IRS: Interest paid on home equity loans is still deductible under new tax plan

    But not in every case
    The country’s new tax laws, ushered in by President Donald Trump and his Republican counterparts late last year, will bring many changes to the mortgage industry. Namely, the plan reduces the available mortgage interest deduction from $1 million to $750,000. But what’s the impact of the tax plan on home equity loans, home equity lines of credit, and second mortgages? The IRS has answers.
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  • [Charts] Home equity wealth hits new high in November

    Next year to see another all-time high
    As home prices rise across the U.S., so does home equity wealth. CoreLogic’s data shows home equity wealth hit an all-new high as it increased $6 trillion since the last recession. And it doesn’t stop there – CoreLogic forecasted 2018 will see yet another all-time high.
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  • Texas may finally change home equity lending laws

    Time to head to the polls
    After a lot of legwork from the industry, Texans finally have the opportunity to significantly change the state’s home equity lending market next week as people head to the polls on Election Day. Steven Kubik, founder and attorney at Kubik Law Firm, explains what these amendments mean for the state.
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  • HELOC originations set to double over next 5 years

    Home equity surpasses housing boom levels
    Home prices continue to rise, causing them to surpass housing boom levels. But despite this jump in equity, home equity lines of credit are still lagging. However, a new report from TransUnion shows HELOC originations are set to double over the next five years.
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  • Homeowners gained nearly $13,000 in equity from last year

    Home price increases driving up gains
    Homeowners with mortgages continue to see their equity increase in their home. Individually, homeowners earned an average $12,987 in equity between the second quarter of 2016 and the second quarter of this year, but in Western states, this number is much higher.
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  • Number of equity rich properties hits 14 million in Q2

    Increases by 1.6 million properties from last year
    Home equity continued increasing in the second quarter, rising on 1.6 million properties to a total of 14 million that are now equity-rich, which means they hold a mortgaged amount that is 50% or less than the estimated market value. This now represents 24.6% of all properties.
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  • LendingTree unveils its own Zestimate-style home valuation tool

    Will help users identify when they have “actionable” home equity
    Consumer-facing home valuation tools, especially Zillow’s “Zestimate”, have long been a source of consternation in the housing industry. And while Zillow’s tool is mainly designed for people looking to buy or sell a home, there’s a new home valuation tool on the market for people looking to buy, sell, or mainly to refinance their mortgage. The company behind the new valuation tool: LendingTree.
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  • When should you use a reverse mortgage to pay for home modifications?

    How to use your home equity for home improvements
    [Commentary] One big advantage of a reverse mortgage is its flexible repayment feature: there’s no minimum monthly principal and interest payment — the borrowers can choose to make monthly loan payments, or defer repayment until they sell the home or don’t live in it anymore. But, it's not for everyone. Here are some of the benefits and hazards to using the product.
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