One Cool Thing – Seeking Home Equity
The Lawhead Team would like to share the C.A.R.s latest One Cool Thing about which group is cashing in on their equity.
Thanks to rising home prices, homeowners are tapping into equity at the fastest rate in eight years. And millennials are leading the pack of those who are cashing in.
- 39.5 million homeowners with potentially “tappable” home equity in 2016.
Millennials are turning to HELOCS more so than GEN X or Baby Boomers.
- 1/3 of Millennials say they’re considering applying for a HELOC in the next 18 months
Why are HELOCS popular with this crowd?
- Home remodeling
- Debt consolidation
Source: REALTOR© Magazine