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Irish Negative Equity Mortgage - A New Beginning

A different way of looking at an Irish Negative Equity Mortgage from www.newbeginning.ie I posted this video because RTE take down their ...

Home equity withdrawals fall to new low

Nearly 44 million homeowners with a mortgage have more than 20% equity in their home, which comes to about $136,000 of available equity per person and an aggregate amount of $5.98 trillion.

Last summer, the aggregate amount of tappable equity reached an all-time high of $6.06 trillion, a milestone Black Knight says we’ll likely surpass as home prices continue to rise this summer.

That said, while tappable equity is growing, the rate of that growth is slowing significantly along with home prices, falling from 16% a year ago to just 3% in the first quarter.

Major cities, including San Jose, San Francisco, Seattle, Houston, Portland, and Baton Rouge have all seen tappable equity volumes decline in the last year, the report shows.  

Meanwhile, Los Angeles continues to hold the title of the city where homeowners have the most tappable equity. In fact, California itself holds 37% of the nation’s equity, nearly seven times more than the runner-up, Texas.

Can a new home equity loan amount be larger than your mortgage balance?

We currently have a home equity loan and a mortgage, but want to pay off credit card debt.


You should be able to technically do this as long as the new home equity loan + the 1st mortgage are not more than 85% of the home's total value. This is generally the cap.

So if you have a home that's worth $200,000: 85% of that is 170,000.

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