lines of credit by 21% in the 12 months ending in June, according to new data from real estate information firm RealtyTrac
. The 797,865 HELOCs represent the highest level since 2009
Nearly 10 million homeowners nationwide, representing 19% of all homeowners with a mortgage, now have at least 50% equity in their homes. Daren Blomquist, vice president of RealtyTrac, said the rise in HELOCs reflects a natural evolution for a lending industry looking for products they can offer to homeowners who have already refinanced their first-position loan into a low fixed rate.
Is your company getting a piece of the HELOC pie? In the next few pages, we’ll provide the information you need to give you the competitive edge.
HELOCs are gaining traction among homeowners. In fact, lenders increased their origination of