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| Daren Blomquist |
IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s
leading source for comprehensive housing data, today released its first-ever
U.S. Home Equity Line of Credit Trends Report, which found that in the 12
months ending in June 2014 a total of 797,865 Home Equity Lines of Credit
(HELOCs) were originated nationwide, up 20.6 percent from a year ago and the
highest level since the 12 months ending in June 2009.
The report also shows HELOC originations accounted for 15.4
percent of all loan originations nationwide during the first eight months of
2014, the highest percentage since 2008.
“This recent rise in HELOC originations indicates that an
increasing number of homeowners are gaining confidence in the strength of the
housing recovery and, more importantly, have regained much of their home equity
lost during the housing crisis,” said Daren Blomquist.
“Nearly 10 million homeowners nationwide, representing 19
percent of all homeowners with a mortgage, now have at least 50 percent equity
in their homes, according to RealtyTrac data.
“Meanwhile the percentage of homeowners with severe negative
equity has decreased from 29 percent in the second quarter of 2012 to 17
percent in the second quarter of this year.”
For a complete copy of the company’s news release, please
contact:
Ginny Walker
Office: 949.502.8300 ext. 268
Mobile: 323-317-5852
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