Real Estate

How to tap your house for cash as home equity hits a record high

0


Whether it’s a kitchen remodel or dedicated work space, after a year of staying in, most homeowners have at least entertained the idea of a home renovation project.

Yet anyone who has tried to tap their house for cash might be in for a surprise.

Skyrocketing home prices have resulted in a record amount of home equity on hand. By the end of last year, roughly 46 million homeowners held a total $7.3 trillion in equity to tap, the largest amount ever recorded, according to Black Knight, a mortgage technology and research firm.

Still, it’s not always easy to access that money. Since the start of the coronavirus pandemic, several large banks stopped offering home equity lines of credit



Source cnbc.com

Tesla electric vehicle regulatory credits explained

Previous article

Cryptocurrencies near big milestone vs. gold by one Wall Street firm’s count

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Real Estate