U.S. Homeowners Unable to Tap Into Home Equity
U.S. homeowners have more than $29.3 trillion in home equity–a 64% increase compared to the same time five years ago, yet many aren’t able to see these gains until they sell their homes. Homeowners have typically turned to traditional forms of financing, such as a cash-out refinance or a home equity line of credit (HELOC), to access their home equity for things like home renovations, starting businesses, or paying off higher-interest debt.
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