House rich, cash poor? Here are two ways you can tap into your most valuable asset

A Statistics Canada report reveals that 43% of Canadians' assets are in their homes, prompting interest in unlocking home equity. The most common method is a home equity line of credit (HELOC), allowing homeowners to borrow against their equity. Recently, Home Equity Sharing Agreements (HESA) have emerged, enabling homeowners to access cash in exchange for a share of future home appreciation. Unlike HELOCs, HESAs require no monthly payments or interest, but homeowners must consider potential future losses. Financial experts advise careful evaluation of both options.