Here's a rundown of what's driving the trend, along with advice on how to join it — and on some alternatives you should consider before
tapping your home equity through refinancing.
More homeowners are
tapping their home equity through cash - out refinances.
If you're already retired and feeling a budget pinch, you can explore options like trading down, relocating to a lower - cost area or
tapping your home equity through a reverse mortgage.
It might make more sense for some seniors, for example, to
tap home equity through a line of credit on a reverse mortgage rather than taking a retirement account distribution that would boost them into the next tax bracket, says Wade Pfau, professor of retirement income at the American College of Financial Services.
Not exact matches
If you do have at least 20 percent, the most common ways to
tap the excess
equity are
through a cash - out refinance or a
home equity loan.
You can
tap into
equity to gain access to money
through a cash - out refinance, for example, which can help you start a new business, pay for college tuition or finance a
home renovation.
Equity Loans includes mortgage advice on what is involved with tapping your equity through home equity loans or second mort
Equity Loans includes mortgage advice on what is involved with
tapping your
equity through home equity loans or second mort
equity through home equity loans or second mort
equity loans or second mortgages.
If an income gap is anticipated during retirement, perhaps it can be eliminated
through lifestyle changes in your fifties and sixties - for example, by saving at a higher rate, working longer,
tapping into
home equity, or deciding to have a less luxurious lifestyle in retirement.
Another option is to
tap into your
home's
equity through a
home equity loan or line of credit (HELOC).
Whichever method you choose,
tapping home equity is a major decision that needs to be thought
through.
Home equity: Homeowners can tap the equity in their home through a loan or credit line (HEL
Home equity: Homeowners can
tap the
equity in their
home through a loan or credit line (HEL
home through a loan or credit line (HELOC).
Indeed, you can potentially save hundreds of dollars each month by
tapping into that
home equity through a mortgage refinance.
save hundreds of dollars each month by
tapping into that
home equity through a mortgage refinance
A record number of Canadians have taken advantage of the historic low mortgage rates and rising real estate values and have
tapped into their
home equity through equity take - outs.
Creative Financing A Baby Step Adoption Agency reports financing adoptions
through some or all of the following activities: bake sales, car washes, bowl - a-thons, grandparent or family member assistance, using their own or donated frequent flyer miles for travel,
tapping into 401ks or
home equity.
Tap on Accumulated
Equity If the loan is not an interest - only loan (which is the case for a typical home mortgage) the owner accumulates equity as the loan is repaid through
Equity If the loan is not an interest - only loan (which is the case for a typical
home mortgage) the owner accumulates
equity as the loan is repaid through
equity as the loan is repaid
through time.