At SmartRE, defining home equity is an existential exercise. As democratizers of the homeownership experience, we spend every moment trying to help our buyers and homeowners mutually benefit from home equity. Home equity is the value of a home that is owned by the title holder. It is defined mathematically by the formula “Home Value – Outstanding Home Debt = Home Equity”. So, if the home’s value is $1,000,000 and there is a $500,000 mortgage on the home, then the title holder has $500,000 in home equity. One portion of the equation – Home Value – is a moving target... read more
All posts by matt
HELOCs Constrained During Covid 19
Posted on June 10, 2020As states across the country enacted social distancing to stem the devastating impact of Covid 19, unemployment rose to heights not seen since the Great Depression. A byproduct of nearly 40 million lost jobs was the reaction by banks. Rates have been dropped dramatically, making the cost of credit extremely low. This is fantastic for businesses but not great for consumers. Because banks, seeing the jobless rate balloon, are concerned about the ability of individual borrowers to repay loans. So, banks across the country have increased thresholds to access their money. This is impacting credit cards, personal loans, mortgages, and... read more
Benefits of Hobbying SmartRE
Posted on January 28, 2020Work is a constant challenge that keeps your mind sharp. Whatever your occupation, you needed to both think on your feet and spend time in contemplation. Logic, math, science – whatever the subject we swore we’d never use again when learning them in school – were ubiquitous despite our incorrect assertions. But once you stop working, that is no longer the case. Problem solving is often times a thing of the past. That’s why, no matter your age upon retirement, it is important to find a hobby. Why? Because hobbies replace the mental manipulation that was a minute by minute... read more
Volunteer AND Travel SmartRE
Posted on January 13, 2020“The best way to find yourself is to lose yourself in the service of others.” — Mahatma Gandhi Everyone has heard the reason – I’m traveling to find myself. A great place to look is through providing service while traveling, because it combines the thrill of exploring the unknown with the fulfillment of helping those in need. Initially, the idea of volunteering abroad might be intimidating. But consider the benefits. You are literally broadening your horizons, seeing new places but connecting in an intimate and personal way that can never be matched by mere touring. You are immersed in local... read more
SmartRE Choices for Hobbies
Posted on January 3, 2020According to USA Today, 34% of people approaching retirement intend to spend their time pursuing hobbies. But, since most people have spent their pre-retirement time working and raising a family, there was never enough time to commit to hobbies. So what choices are there? Whether you like to spend time alone or with others, inside or outside, or saving money versus spending money, there are a lot of wonderful things to do to occupy your time. Because studies show that maintaining a routine, even if it is not as robust or strict a routine as your former workday, is critical... read more
Volunteering SmartRE
Posted on December 22, 2019“You give but little when you give of your possessions. It is when you give of yourself that you truly give”. Kahlil Gibran Whether you retired at 65, 75, or 50, charitable opportunities open up exponentially. Because time is now not an issue. A life of hard work mandates lounging and vacationing upon retirement, but that ends and new retirees are eventually faced with boredom. Volunteering beckons as a welcome medium between the slavish demands of your working days and the sedentary sameness of retirement. The dual demands of a life raising a family as well as providing for that... read more