Source: Yahoo! Finance
“A new economic analysis from Point highlights a growing challenge for American homeowners: accessing their home equity in times of financial need. According to the report, approximately 4.6 million homeowners with a mortgage experience a labor market shift each year that potentially negatively impacts their credit scores — potentially locking them out of traditional home equity lending options. In total, this represents an estimated $731 billion in ‘trapped’ home equity. For decades, home equity has served as a financial safety net, helping homeowners manage life’s major expenses, from home renovations to medical bills. However, the report identifies two fundamental shifts in the post-pandemic economy that are reshaping access to home equity: persistently high interest rates and the normalization of non-traditional career paths.” (04/09/25)
https://finance.yahoo.com/news/731-billion-home-equity-expected-080100711.html