With home prices surging, many homeowners are sitting on high-value properties while remaining cash-poor. Owners can unlock some of the equity in their homes through secured credit arrangements, but the shared home-equity agreement offers a popular way for cash-strapped owners to access some of the riches locked inside their properties.
If there was ever a time for banks to rise to a challenge, it is now, as COVID-19 ravages the physical and financial health of millions. The Great Recession, created largely by banking malpractice, prompted positive changes in banking but revealed serious shortfalls in customer service. This time around, can banks stand behind all of their customers, provide crucial aid wherever needed and offer much-needed hope for a better future?