HELOCs the next home credit product?

Highest level of home equity loans since June 2009. A total of 797,865 home equity lines of credit were originated nationwide, up 20.6% from a year ago and the highest level since the 12 months ending June 2009, according to RealtyTrac. The report also shows HELOC originations accounted for 15.4% of all loan originations nationwideContinue

Borrowers may now have a chance to build equity fast

Two major banks have agreed to originate a new 15-year mortgage under pilot programs aimed at low- and moderate-income borrowers. In addition, the creators of the so-called Wealth Building Home Loan,   allows home buyers to build equity at a much faster clip than they would with a standard 30-year loan. Typically, the monthly payment onContinue