Banks are offering home equity loans again

home equity loans

home equity loansBy Catherine Reagor, The Republic

Those offers from lenders are starting to arrive in the mail to metro Phoenix homeowners again. The area’s home values have recovered enough for banks to begin offering home equity loans.

The number of home equity loans climbed 20 percent last year compared with 2012, the biggest increase since the housing crash, according to financial research firms Equifax and Moodys. U.S. homeowners signed up to tap more than $92 billion in equity during 2014. Lenders say the upward trend continues this year.

Metro Phoenix’s home values are up more than 65 percent from the crash, and only 20.6 percent, or about 186,500 Valley homeowners, now are underwater, according to real estate research firm CoreLogic.


Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories