Tax Breaks or Not, Home Equity Lending Has Huge Potential

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Posted To: MND NewsWire

Most households buy a home to live in and raise a family. Consequently, they may not view a home as a financial asset in the same way they view their cash savings or their retirement accounts. Only half of American workers are confident that they have or will have enough in savings to fund a comfortable retirement. These are two seemingly disparate statements, but a new study from the Urban Institute (UI) says the first could provide a partial solution to the second. A home is the most commonly owned asset in America and the most valuable one . It can be a critical source of financial security for elderly households that lack other income and savings. The study, conducted by Laurie Goodman, Karan Kaul and Jun Zhu, was commissioned by Finance of America Reverse to find how many borrowers could…(read more)

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