MortgagePoint Highlights Hometap Survey Insights on Financial Strain Facing Homeowners

More than half of homeowners are experiencing financial stress, according to a recent survey conducted by Hometap, a Boston-based financial technology firm that is leading the way in home equity financing solutions.

This stress is a result of escalating homeownership costs that are outpacing income and delaying long-term aspirations. Many, however, are steadfast in their resolve to preserve their homes and the long-term worth they hold in spite of the pressure.

In recent years, the financial realities of homeownership have changed. Household budgets are under increasing strain due to rising expenses in almost every area of home ownership. As home values have risen, so too have property taxes, insurance premiums, and upkeep expenses. As a result, even as the value of their homes increases, many homeowners are finding it more difficult to keep up.

This article originally appeared in MortgagePoint. Read the full article here.