In the current economic climate, mortgage rates and housing expenses have seen a steady increase, putting financial strain on older citizens who are turning to their retirement savings to cope with rising costs. For homeowners, leveraging home equity products has emerged as a beneficial option, allowing individuals to access cash by utilizing the equity in their homes.
Key points from the text include:
– Rising mortgage rates and housing expenses
– Older citizens dipping into retirement savings to cover costs
– Home equity products as a solution for homeowners to access cash
– Importance for mortgage professionals to stay informed and updated on new developments in the industry to better serve their clients and offer relevant financial advice.
You can read this full article at: https://www.housingwire.com/articles/how-finance-of-america-empowers-lenders-using-home-equity/(subscription required)
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