Home equity products enable homeowners to unlock the value of their homes through a variety of financing contracts. Each product has distinct features, benefits, and risks. In this post, we compare and contrast common home equity products, including home equity lines of credit (HELOC), closed-end home equity loans (HEL), reverse mortgages, and home equity agreements
The Consumer Financial Protection Bureau’s (CFPB) latest proposed rule to define risks to consumers may appear technical, but its implications reach far beyond the narrow mechanics of supervisory designation. By binding itself to a clearer standard requiring a high likelihood of significant harm directly tied to financial products and services, the Bureau is signaling a