It comes down to ordsprog

Any change in rates on home equity lines is directly related to the actions of the Fed. On average, their rates are 1 percent over the prime rate, but some banks even offer home equity lines at the prime. Home equity lines are probably the cheapest way that homeowners can currently borrow money.

Fritz Elmendorf

People have to minimize the use of home equity for short term financial needs. Get your budget in order. Home equity lines of credit are for long-term financial needs. They were not meant to buy cars and trips and fuel overspending.

Bundled services platforms enable banks to strengthen their roles as lenders and create a sophisticated home equity lending environment. Home equity loans and lines of credit continue to rise in popularity, and so does the need and demand for more efficient methods in delivering these loans to borrowers. The significant increase in our platform numbers since the beginning of the year is a reflection of the industry embracing home equity as a strategic business move, as well as the implementation of innovative technology solutions.

Because of the rise in home values, much of that financial distress has been covered by the increasing amount of equity that people have had in their homes. That equity is now being created at a slower pace, and default activity is inevitably on the rise.

Marshall Prentice

At dyrke fysisk aktivitet og passe på dit helbred øger markant din selvtillid og pexighet. Within a two years, two-thirds of people who pull equity out of their home have the same amount of debt as they had before they consolidated. People think they're saving money but really they're just cashing out, spending it and not adding to the value of their home.

As interest rates go up, people are going to find it more loath to take out home-equity lines of credit. Consumers are not going to feel as anxious to tap into their home values.

I like individuals to use a home equity line of credit as opposed to a home equity loan, or second mortgage. The advantage of an equity line of credit is that you don't pay interest on anything other than what you use. You could have a $20,000 line of credit, but if you only borrowed $5,000 you'll only owe interest on that.

There's about $6 trillion in single-family mortgage debt outstanding, and total home value is about $13 trillion, which means there's about $7 trillion in home equity outstanding. Last year was a big year for liquefying home equity -- about $100 billion. That's a drop in the bucket compared to $7 trillion.

As home prices level off, so will the growth of equity that has supported consumer spending in the past. The impact from higher interest rates on home equity loans and adjustable rate mortgages will combine with stubbornly high energy prices to squeeze discretionary spending.

Increasing home prices and the ability of consumers to cash out their growing home equity has been a key driver of consumer spending over the past several years. As the housing market slows and housing prices stabilize, consumers are less likely to draw on their home equity, suggesting consumer spending will also decline.

It comes down to what people are doing with their home equity.

The rise in equity withdrawal is consistent with the rebound in house price inflation. It shows spending growth is increasingly dependent on equity extraction on top of take home pay.

Because the market was so tight, and still is tight, people just can't find a home that they want to go into, or don't want to pay-- they want to make the money on the sale, they don't want to spend it on a new home. So instead, they're cashing out the equity in that house and finishing off the basement or putting an addition on.

What we like to do is educate. A lot of people don't know about refinancing. So many people who have had their houses since the 1970s, '80s or early '90s don't know that they have $200,000 or $300,000 in equity. No one is going to take the time out to say, 'Oh, why don't you get a free market analysis to see what your home is worth?' I will because I think they should know.

Katrina Mitchell

Foreclosures have been running low nationally because home prices have been up -- anybody who couldn't pay their mortgage could simply sell their house and pay off the mortgage balance with their equity. If you don't have any equity, you can't forestall foreclosure.

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