Why Tap Into Your Home’s Equity Now?

FEB 28, 2018-1 MIN

Why Tap Into Your Home’s Equity Now?

FEB 28, 2018-1 MIN

Description

<div style="text-align: center;"> <iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/bUoxsAh0P9Y?rel=0" width="560"></iframe><br /></div> <div style="text-align: center;"> <i><br /></i> <i><span lang="EN" style="font-family: "arial" , sans-serif; font-size: 11.0pt; line-height: 115%;">Many homeowners are tapping into their home’s equity. Here’s why.</span></i></div> <br /> <div style="text-align: center;"> </div> <div style="text-align: center;"> <i style="background-color: white; font-family: arial, helvetica, sans-serif; font-size: 15.4px; line-height: 21.56px;"><b id="docs-internal-guid-34ba53e8-b72c-d3fc-4684-8f5a296054de" style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span></b></i><i style="background-color: white; font-family: arial, helvetica, sans-serif; font-size: 15.4px; line-height: 21.56px;">Buying a home? <b><a href="http://jesse.thejesseherfelgroup.com/" target="_blank">Click here to perform a full home search</a></b></i> </div> <div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"> <span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;"></span></div> <div style="text-align: center;"> <i style="background-color: white; font-family: arial, helvetica, sans-serif; font-size: 15.4px; line-height: 21.56px;">Selling a home? <b><a href="http://azinstanthomevalue.com/" target="_blank">Click here for a FREE Home Price Evaluation</a> </b></i><br /> <br /> <div style="text-align: left;"> <span style="font-size: normal;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; line-height: 21.56px;">Do you notice that pile of cash you're sitting on right now? <br /><br />I'm not joking. <b>42 million homeowners with mortgages have equity in their home right now.</b><br /><br />When added up, tappable home equity recently reached $5.5 trillion. That's about $3 trillion more than when the housing market bottomed out in 2012. "Tappable equity" is defined here as the amount a homeowner could borrow before they hit 80% of debt to value.<br /><br />Not surprisingly, <b>many homeowners are looking to tap into these hidden reserves.</b> As just one sign of this, mortgage applications are up 4.1% this January over last year. That's mostly been driven by mortgage refinances, <b>as homeowners are looking to take advantage of low (but increasing) rates</b> to take out some of that equity as cash.<br /><br />Another option to a mortgage refinance is a home equity line of credit (HELOC), a kind of checking account on your home. While HELOCs have been growing in popularity, they've hit a slight snag recently because the new tax bill eliminates the deductions for interest paid on such lines of credit. </span></span></span><br /> <span style="font-size: normal;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; line-height: 21.56px;"><br /></span></span></span> <br /> <div class="quote-box"> <span style="font-size: normal;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; line-height: 21.56px;"><span class="quote quote-left">“</span></span></span></span><br /> <div class="quote-text"> <span style="font-size: normal;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; line-height: 21.56px;">Many homeowners are tapping into their equity now. </span></span></span></div> <span style="font-size: normal;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; line-height: 21.56px;"><br /></span></span></span> <span style="font-size: normal;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; line-height: 21.56px;"><span class="quote quote-right">”</span> </span></span></span></div> <span style="font-size: normal;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; line-height: 21.56px;"><br />What are homeowners who tap into their equity actually doing with the extra cash? Most people are spending it on <b>making their homes even more valuable</b>. According to one survey, 80% of borrowers would consider using that cash to renovate their home. <br /><br />However, other homeowners are using <b>their home equity to cover education expenses, to pay down other debt, or simply for investing,</b> whether in stocks, real estate, or even cryptocurrencies.<br /><br />So should you tap into your home equity?<br /><br />I can't say either yes or no. It’s something you’ll have to decide on your own. However, if you have any questions or would like us to take a look at your specific situation to see what your best move is, we would be glad to help. Don’t hesitate to give me a call or send me an email any time. </span></span></span><i style="background-color: white; font-family: arial, helvetica, sans-serif; font-size: 15.4px; line-height: 21.56px;"><b><br /></b></i></div> </div>