Shockingly Owners are clueless about home equity

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CNBC – Despite three years of a solid recovery in home prices, a surprising number of homeowners don’t realize what they’ve gained. Most underestimate what their home is worth and, consequently, the amount of home equity that they could draw upon. Even more striking, just more than half of homeowners with a mortgage don’t expect to gain any equity in 2016, despite rising home prices. It may be why home equity lines of credit are far less popular today than they were even before the housing boom. Read more.

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