Latest Home equity loans News

Insider Q&A: Ken Lin, CEO of Credit Karma

Nov. 21, 2022 08:13 AM EST

NEW YORK (AP) — Credit Karma is probably best known for giving Americans regular access to their credit scores, but the San Francisco-based company also acts as a starting place to shop for a loan, bank account or mortgage. Roughly 76 million Americans have used Credit Karma,...

'Zombie Debt': Homeowners face foreclosure on old mortgages

Nov. 16, 2022 00:07 AM EST

Rose Prophete thought the second mortgage loan on her Brooklyn home was resolved about a decade ago — until she received paperwork claiming she owed more than $130,000. “I was shocked,” said Prophete, who refinanced her two-family home in 2006, six years after arriving from...

How steep fed rate hikes affect your finances

Nov. 02, 2022 14:34 PM EDT

NEW YORK (AP) — Mortgage rates continue to jump, home sales slump and credit cards and auto loans increase. Savings rates are slightly juicier, though. As the Federal Reserve steadily increases interest rates, many economists say they fear that a recession remains inevitable in the...

South Florida home prices fall, but key issue remains

Oct. 01, 2022 03:14 AM EDT

MIAMI (AP) — Housing prices fell again last month in Miami-Dade County and dipped for the first time in months in neighboring Broward County, an uplifting sign for aspiring home buyers. Miami-Dade’s median sale price dwindled to $551,250 for a single-family home in August, down...

Homeowners see slower equity gains as housing market cools

Sep. 29, 2022 11:07 AM EDT

LOS ANGELES (AP) — Homeowner equity climbed to record highs in the first half of this year, though its rate of growth is slowing as the housing market cools. Average homeowner equity per borrower reached $298,380 in the second quarter, according to data from CoreLogic. ...

How steep Fed rate hikes affect your finances

Sep. 21, 2022 14:08 PM EDT

NEW YORK (AP) — Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier. Savings rates are slightly juicier, though. As the Federal Reserve has rapidly increased interest rates, many economists say they fear that a recession is...