The level of equity homeowners have is at an all-time high. According to the U.S. Census, over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Every time real estate values increase, homeowners get a dollar-for-dollar gain in their home equity.
Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more …
Why Home Equity Is a Bright Spark in the Housing Market Read More »
Owing more on a car loan than the car is worth—called being “upside down” on a loan—can make buying a new vehicle difficult. The negative equity can mean getting less for your old car at trade-in or coming up with the extra money to pay off the old debt. Cars depreciate quickly, so the urge …
It is a short-term bank loan of the equity in the home you are selling. You may take out a bridge loan, or interim financing, to help with a knotty situation: closing on the home you are buying before you close on the property you are selling. This loan basically enables you to have a …
