February 19, 2017

More homeowners heading to HELOCs

If you’re a homeowner who survived the real estate market downturn from a few years back, chances are the value of your home—and your equity in it—has increased. And therein lies an opportunity: the chance to tap into that equity in the form of a home equity line of credit (HELOC), which can be a great way to finance a home improvement project, pay down debt, help pay for college or even purchase a car.

This option has proved to be increasingly popular in recent years—in fact, for 17 consecutive quarters spanning 2012 through mid-2016, residential HELOC originations increased, according to ATTOM Data Solutions.

Learn more about the pros and cons of HELOCs by reading my latest real estate article for Newspaper Media Group by clicking here.