Items Tagged with 'EQUITY ACCESS'

ARTICLES

  • Older homeowners are spending big on home improvements

    Harvard study says aging homeowners will drive this market
    Home improvement spending continues to trend upward, with the latest data from Harvard’s Joint Center for Housing Studies putting the aggregate total at a new high of $424 billion. The home improvement sector can thank the Baby Boomers for that, as research shows older homeowners are spending big on home renovations and aren't expected to slow down anytime soon.
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  • Homeownership investment startup Hometap expands into new states

    Now available in 6 states, Hometap can help 20% of U.S. homeowners access their equity
    Homeownership investment startup Hometap has expanded into six states, the company announced Wednesday, making its services accessible to 20% of U.S. homeowners. Hometap founder and CEO Jeffrey Glass said the company aims to help those who are house rich but cash poor gain debt-free access to their home's equity.
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  • Sale-leaseback company EasyKnock announces $215 million capital raise, launches new product for home shoppers

    Will buy your house from you, then let you live there while you shop around
    Sale-leaseback company EasyKnock just scored a massive cash infusion, announcing that it has secured $215 million in a debt-equity round, and launched a new product, a play off the sale-leaseback concept marketed toward homeowners looking to buy their next home. The new offering promises to edge out iBuyers with a quick sale at a better rate, plus the ability to let customers stay put while they contemplate their next move, cash in hand.
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  • Sale-leaseback company Sparrow launches in Phoenix

    Offers easy equity access to Phoenix homeowners
    The sale-leaseback category has picked up steam as of late, with several new players emerging with a promise to help homeowners access their equity without the need to move. Now, a new company called Sparrow has emerged to help Phoenix-area homeowners do just that.
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  • Why aren't more people tapping into their home equity?

    Homeowners have record amounts of housing wealth, so why are they so reluctant to use it?
    Homeowners have a nice stockpile of pent-up wealth in their homes and home prices continue to appreciate. And, it seems that every quarter a new startup emerges promising to disrupt the home equity space by giving homeowners a better, faster, cheaper or even debt-free way to tap into the wealth in their homes. And yet, so many Americans appear to be reluctant to take this route. What gives? We talked to a number of experts for their take.
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  • More countries promote reverse mortgage-like programs

    Hong Kong and Malta work on their own equity-release products
    Reverse mortgages are finding some traction abroad as more countries adopt and tweak equity-release programs designed to allow seniors to access their home's equity. Recently, the tiny Mediterranean island of Malta announced the pending launch of an equity-release program for retirees, while Hong Kong announced changes to its program to allow borrowers to relocate without defaulting. These developments highlight the fact that policymakers across cultures recognize the potential solution equity access presents as the global population continues to age.
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  • These two catalysts could spark a surge in home equity use

    Here's how low interest rates and a wave of tech IPOs could affect the housing market
    This year, two geysers of pent-up wealth are set to erupt, and the ripple effect just might inspire more homeowners to utilize their home equity. That's the theory proposed by Bloomberg columnist Conor Sen in a recent op-ed, in which he examines the possibility that U.S. homeowners might once again embrace debt and leverage now that memories of the financial crisis are beginning to fade. Will 2019 be the year of equity access?
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  • More borrowers are raising their mortgage rate to cash out equity

    Cash-outs comprise greatest share of refinances since 2006 peak
    For several months now, cash-out refinances have been eating up a greater share of overall refi volume, and it appears the trend isn't about to slow down anytime soon. The latest report from Black Knight reveals that 82% of refinances originated in Q4 2018 were cash-outs, and that in two-thirds of these transactions, the borrower raised their mortgage rate in order to access their equity in cash.
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  • Amount of tappable equity falls again

    Q4 sees equity amounts backslide as home price growth slows
    The collective amount of equity available for homeowners to tap reached a record high last year, climbing above $6 trillion as home prices continued to appreciate at a steady clip. But now, tappable equity totals are retreating, with Black Knight data revealing a second consecutive quarter of declines as home price growth slows in many of the most expensive markets.
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  • Homeownership investment company Point raises $122 million

    Plans to work with investors to tackle housing affordability issues
    Homeownership investment company Point just landed a major cash infusion that will fund its plans to help more Americans access their home equity, raising $100 million in platform capital and securing $22 million in a Series B funding round. "We are witnessing the emergence of a whole new class of financial solution that is aligned with homeowners, and investors are taking notice," said Point Co-Founder and CEO Eddie Lim.
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