Your home equity could keep you afloat in retirement or bail you out in an emergency — but not if you spend it first.
ST. CLOUD, Minn. (AP) — A financial services processing center that has bolstered downtown St. Cloud is losing 130 jobs as part of wider cuts by Capital One Financial Corp.
The St. Cloud Times reports that the cuts amount to 15 percent of the local Capital One workforce. Mayor Dave Kleis says the layoffs didn't come as a surprise, but that "you never want to see any loss of jobs."
ORLANDO, Fla. (AP) — The number of home equity loans in Orlando is up almost 25 percent over the past year.
The research firm ATTOM Data Solutions last week said Orlando was among the top 10 cities for growth in the number of home equity line of credit originations.
In such a loan, often called HELOC, a homeowner uses equity in a house to secure a loan from a lender.