{"id":1611,"date":"2017-03-06T00:00:00","date_gmt":"2017-03-06T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/more-homeowners-turn-to-their-equity-again\/"},"modified":"2017-03-06T00:00:00","modified_gmt":"2017-03-06T00:00:00","slug":"more-homeowners-turn-to-their-equity-again","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/more-homeowners-turn-to-their-equity-again\/","title":{"rendered":"More Homeowners Turn to Their Equity Again"},"content":{"rendered":"

\n<\/p>\n

\n <\/p>\n
<\/p>\n

As home values rise fast, homeowners are starting to realize they have a lot of wealth tucked into their homes, and it\u2019s become enticing to tap into it.<\/p>\n

\n

Read more<\/strong>: Equity-Rich Properties Rise By 1.3M in 1 Year<\/span><\/p>\n<\/blockquote>\n

Since the housing<\/a> crash, homeowners have been shy about accessing any of their home equity, even those who still had money in their homes. But as millions of borrowers emerge from their underwater home loans<\/a> and see their home values jump again, they\u2019re turning to home equity lines of credit, or HELOCs, once again.<\/p>\n

HELOC volume has increased 21 percent over the past two years. It\u2019s now at the highest level since 2008, according to Moody\u2019s data. Still, it is far from the levels of the housing boom.<\/p>\n

“The more second liens that people take out, it adds a risk that comes from the rising home prices,\u201d says Peter McNally, a senior analyst at Moody\u2019s. \u201cThe fact that people are leveraging their homes more than before makes things more risky.\u201d<\/p>\n

Mixed with that, borrowers also are putting down smaller down payments. Prior to the last housing boom, the median down payment was just over 7 percent. Down payments dropped to 3 percent during the housing boom, but were back up to about 6 percent in 2016, according to ATTOM Data Solutions. Down payments are projected to move lower as more lenders<\/a> offer<\/a> greater low down payment options again.<\/p>\n

Source: \u201cMore Homeowners Cashing in on Their New Housing Wealth,\u201d CNBC (March 3, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

[ad_2]
\n
 link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As home values rise fast, homeowners are starting to realize they have a lot of wealth … More Homeowners Turn to Their Equity Again<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1612,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[625,12908,543,3051,627,127,344,604,1007,416,41,818],"class_list":["post-1611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-down-payment","tag-home","tag-home-buying-guide","tag-homeowner","tag-homeowners","tag-homes","tag-housing","tag-loans","tag-owners","tag-properties","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/B9R4pu0efME","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1903,"url":"https:\/\/amazingproperty.com.ng\/blog\/homeowners-find-an-equity-bright-spot\/","url_meta":{"origin":1611,"position":0},"title":"Homeowners Find an Equity Bright Spot","author":"Amazing Property","date":"March 13, 2017","format":false,"excerpt":"One million U.S. borrowers regained equity in 2016, according to CoreLogic\u2019s newly released housing\u00a0report. Further, about 63 percent of all homeowners saw their equity increase last year. Read more: More Homeowners Turn to Their Equity Again Now, 93.8 percent of all mortgaged properties\u2014or about 48 million homes\u2014are in positive equity\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":725,"url":"https:\/\/amazingproperty.com.ng\/blog\/equity-rich-properties-rise-by-1-3m-in-1-year\/","url_meta":{"origin":1611,"position":1},"title":"Equity-Rich Properties Rise By 1.3M in 1 Year","author":"Amazing Property","date":"February 10, 2017","format":false,"excerpt":"[ad_1] The equity picture is looking brighter for homeowners. At the end of 2016, there were 13.9 million U.S. properties \u2013 or nearly 25 percent of the housing stock with a mortgage -- that were considered equity rich, according to ATTOM Data Solutions. Equity rich is when the loan on\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/1_rss.png?fit=584%2C644&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/1_rss.png?fit=584%2C644&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/1_rss.png?fit=584%2C644&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5687,"url":"https:\/\/amazingproperty.com.ng\/blog\/owners-say-their-homes-are-worth-more\/","url_meta":{"origin":1611,"position":2},"title":"Owners Say Their Homes Are Worth More","author":"Amazing Property","date":"August 10, 2017","format":false,"excerpt":"Homeowners continue\u00a0to say that their homes are worth more than appraisers\u2019 opinions, according to the latest reading from Quicken Loans\u2019 National Home Price Perception Index. Consumers believed their properties to be worth 1.55 percent more than what appraisers said they were in July.\u00a0 That said, the gap is\u00a0narrowing between these\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"DN_QuickenLoans_index.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/DN_QuickenLoans_index.png?fit=640%2C663&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/DN_QuickenLoans_index.png?fit=640%2C663&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/DN_QuickenLoans_index.png?fit=640%2C663&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7184,"url":"https:\/\/amazingproperty.com.ng\/blog\/underwater-homes-are-drying-up\/","url_meta":{"origin":1611,"position":3},"title":"\u2018Underwater\u2019 Homes Are Drying Up","author":"Amazing Property","date":"November 22, 2017","format":false,"excerpt":"As more homeowners see their property values rise, the number of homes that are seriously underwater continues to decrease. At the end of the third quarter, there were 4.6 million U.S. properties considered seriously underwater, which is down by more than 1.4 million properties from a year ago, according to\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1 Rss.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/1_rss.png?fit=599%2C586&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/1_rss.png?fit=599%2C586&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/1_rss.png?fit=599%2C586&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11494,"url":"https:\/\/amazingproperty.com.ng\/blog\/homeowners-saw-almost-20-equity-jump-in-a-year\/","url_meta":{"origin":1611,"position":4},"title":"Homeowners Saw Almost 20% Equity Jump in a Year","author":"Amazing Property","date":"November 21, 2022","format":false,"excerpt":"Equity Jump, The first quarter of 2021, the average homeowner gained about $33,400 in equity over the past year. \u00a0 Existing homeowners may be feeling richer since they've received a notable boost to their home equity over the last year. Homeowners with a mortgage have seen their equity climb nearly\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Equity Jump","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/06\/Equity-Jump.png?fit=1024%2C733&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/06\/Equity-Jump.png?fit=1024%2C733&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/06\/Equity-Jump.png?fit=1024%2C733&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/06\/Equity-Jump.png?fit=1024%2C733&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5763,"url":"https:\/\/amazingproperty.com.ng\/blog\/report-1-in-4-homes-now-equity-rich\/","url_meta":{"origin":1611,"position":5},"title":"Report: 1 in 4 Homes Now Equity Rich","author":"Amazing Property","date":"August 17, 2017","format":false,"excerpt":"Homeowners should be feeling richer. At the end of the second quarter, more than 14 million U.S. properties were considered equity rich. (That means the combined loan amount secured by the property was 50 percent or less of the estimated market value of the property.) Nearly 320,000 properties joined the\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1503014319_1_rss.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/1503014319_1_rss.png?fit=599%2C659&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/1503014319_1_rss.png?fit=599%2C659&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/1503014319_1_rss.png?fit=599%2C659&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=1611"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1611\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/1612"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=1611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=1611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=1611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}