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What rate of return is the bank paying you for the equity in your home? Zip Zero Zilch! Use the equity to pay off high interest credit cards ...

Americans are not financially prepared for living longer lives

, Draws on original and existing datasets to predict financial outcomes at different life stages. Sims and her co-authors found that across generations, Americans are increasingly falling behind when it comes to attaining two prominent predictors of financial security later in life: homeownership and retirement savings.

“We, as an aging society, are moving in the wrong direction towards adequately preparing for such long lives,” Sims said. “Multiple generations of Americans are facing the very real possibility of failing to achieve a lifetime of financial stability.”

Many Americans can’t retire at 65

Currently, Americans age 25-64 are not saving enough to retire comfortably, the researchers found.

Roughly half of American workers are participating in work-based retirement savings plans and on average are contributing 6 to 8 percent of their income. But according to the researchers’ projections, they need to be saving more if they want to maintain their standard of living and retire fully from the workforce at age 65.

Tips to Help Financial Marketers Grab More Home Equity Lending Business

If your institution isn't actively marketing home equity loans and lines of credit, you're giving up potential market share to a handful of giants. Here's how community banks and credit unions can generate more home equity business, along with a gallery of marketing examples.

Subscribe to The Financial Brand via email for FREE! Home prices are up 6% from a year earlier, and home equity continues to grow. According to CoreLogic, home equity had risen in the second quarter of 2018 by 12.1% year over year. In dollars, that means a gain of over $1 trillion in the quarter, coming to about $16,200 per home.

TransUnion projects that 10 million Americans will originate home equity lines of credit (HELOCs) between 2018 and 2022. That’s more than twice the level originated in the previous five-year period — a rich vein of demand waiting to be tapped.

Any advantage between joint and single home equity lines?

Me and my wife are thinking about it, but not sure if to go with joint or single? What are pros and cons?


TAGS: Mortgages, Home Loan, Bank, Banking, Finance.


It's an equity line. It HAS to be titled at least in the same manner as the house. If the house is a joint ownership then so WILL the loan. They will demand all owners pledge to the loan.