Posted on Apr 13, 2019

The Texas Mortgage Pros

How Do You Build Home Equity?

11 Ways To Effective Build Home Equity
Home equity is really booming these days.
At a final glance, that total equity on mortgaged properties was approximately $10 trillion with approximately $6 trillion being tappable, according to Black Knight’s recent figures.

Yes, this is a “T and not a “B.” However, just a couple of years ago, you would never have guessed this.

During the early 2000s, everything was all about tapping into your home’s equity line a cash-out refinance or line of credit.

The using your home as an ATM thing for making lavish purchases to just to pay your bills every month.

This resulted in the narrative quickly changing to foreclosures, loan modification programs, underwater mortgages, negative equity, declining equity and so forth.

Funny how this works.
The reversal of fortunes was caused by zero down mortgages and crashing home prices, many of which were not underwritten properly to start with.

Most of the people who ran into problems buying houses at unsustainable prices at the height of the market, while also relying on 100% financing at the same time to close the deal.

That causes many homeowners to consider walking away or to leave, as housing price depreciation became the leading driver of defaults.

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