• Florida real estate firm accused of ‘equity theft’ by St. Louis homeowners
    Real Estate

    Florida real estate firm accused of ‘equity theft’ by St. Louis homeowners

    ST. LOUIS — Dianne Allen had been ignoring the calls from a number she didn’t recognize. But after so many, she finally relented. The woman on the other end asked if she was the owner of 8441 Midwood Avenue in Berkeley. “What’s this concerning?” Allen asked. “You could be eligible for up to $2,000 in upfront cash if you agree to use our real estate service,” the woman said. Allen needed some money to catch up on her truck payments. And before the end of that day in August, a notary was at her house, thumbing through papers for her to sign. They gave her a check for $500. “I…

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  • HELOC Borrowers Commonly Use That Money for Home Renovations. But Here’s Why a Home Equity Loan May Be Better
    Home Improvement

    HELOC Borrowers Commonly Use That Money for Home Renovations. But Here’s Why a Home Equity Loan May Be Better

    Impression resource: Getty Images With a HELOC, you might be actually taking on more possibility. Essential points Borrowing versus your dwelling is a superior way to fund a renovation undertaking. A property fairness personal loan may well be a a lot less risky prospect than a HELOC, even even though HELOCs can be far more adaptable. Home equity loans have a fixed desire fee, while HELOC curiosity prices are variable. A lot of individuals settle in the system of shopping for homes. They conclude up with a kitchen area which is outdated, a bathroom that’s noticed greater days, or a basement that appears to be like like a scene straight…

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  • Liz Weston: Should you tap your home equity as real estate values rise?
    Real Estate

    Liz Weston: Should you tap your home equity as real estate values rise?

    Soaring real estate values mean many homeowners are awash in equity — the difference between what they owe and what their homes are worth. The average-priced home is up 42% since the start of the pandemic, and the average homeowner with a mortgage can now tap over $207,000 in equity, according to Black Knight Inc., a mortgage and real estate data analysis company. Spending that wealth can be tempting. Proceeds from home equity loans or lines of credit can fund home improvements, college tuition, debt consolidation, new cars, vacations — whatever the borrower wants. More from Liz Weston But just because something can be done, of course, doesn’t mean it…

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