More homeowners extend HELOC lines as housing market booms
With many areas of America experiencing strong growth in house prices owners are taking the opportunity to unlock the cash in their homes. Data from credit bureau Equifax shows that there has been a sharp rise in home equity
lines of credit (HELOC) with an almost 15 per cent rise year-over-year during the first half of 2015. With a credit limit near $70 billion the 657,000 new HELOCs is the highest since 2008. However Equifax warns that 9,600 of these new lines, amounting to $338 million, went to owners with Equifax Risk Scores below 620, 30 per cent more than in the same period in 2014.
Taylor takes swift action to snap up Beverly Hills estate
Singer Taylor Swift has reportedly paid $25 million for a two-acre Beverly Hills estate according to Variety. The property, previously owned by the Goldwyn family, includes an 11,000 square foot main house with 6-bedrooms and 5-bathrooms plus a two-room guest apartment. There are also tennis courts, extensive gardens and swimming pool. The pop starlet is said to have paid cash for the estate. Ms. Swift has been true to her name in getting involved in real estate deals in California, New York and Tennessee.
These states have the most energy-efficient homes
With more consumers seeking greener living and lower costs there is increasing interest in energy efficiency of homes. A new survey ranks 48 US states according to their energy ratings for both homes and autos and found that New York State tops the list. WalletHub gives the Empire State a 93.36 overall score as it ranks well for both metrics. However for only the home efficiency ranking Utah comes top followed by Minnesota, Maine, New York and Vermont. South Carolina, Louisiana and Alabama rate near the bottom of the list.