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Home equity loans set to soar along with home prices

Ever since the epic housing crash of the last decade, homeowners have been incredibly conservative with their housing debt.

Home prices rose, at first slowly and now quite dramatically, yet owners held back on taking out all that new-found equity. That is about to change — by a lot.

About 10 million homeowners are expected to take out home equity lines of credit in the next four years, according to a new report from TransUnion.

That would be more than double the amount of originations between 2012 and 2016. This comes as the amount of available home equity has jumped to more than $13 trillion today from $6.3 trillion in 2011, the bottom of the last housing crash.

Read Article at USAToday

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