Big investors plan to 'revolutionize' how people tap into a record $27.8T in home equity
August 9, 2022
American homeowners have never been richer — at least on paper.
After watching their home values soar over the past two years, many owners are looking for ways to tap into their enormous piles of equity.More and more companies are offering to coinvest in owners’ homes, providing immediate cash in exchange for a piece of the property’s value in the future.
Companies like Point, Unison, Hometap, and EquiFi say their products, known as home-equity investments , can help homeowners unlock wealth that’s traditionally been impossible for them to access without selling their homes or taking on more debt. These companies see huge growth potential, since US homeowners are sitting on a record $27.8 trillion worth of home equity, according to the FederalReserve.
This article originally appeared on Business Insider. Read the full article here.