Posted by Brent_IL on August 30, 2004 at 12:29:38:
I don’t know of a company that does equity leasing, but I’m sure there are plenty of them out there. We did our proposals one-on-one and didn’t need to use a bond, although I’m certain that bonds are available. Try a Google? search.
Has Anyone Heard of Equity Sharing Programs? - Posted by DE
Posted by DE on August 24, 2004 at 14:15:50:
Has anyone heard of any programs by a company
where a homeowner can assign thier equity in
their house to a company for a certain period
of time in exchange for some kind of $$ benefit?
Sounds like an interesting idea, but does someone
here know of anyone who does this?
Re: Has Anyone Heard of Equity Sharing Programs? - Posted by Brent_IL
Posted by Brent_IL on August 26, 2004 at 15:34:12:
The equity in your house is being used as collateral and assigned as security for a loan somewhere. Essentially, a junior lien is being placed on the property. They are either using the equity directly, or they’re getting a second loan. For allowing this to occur, you will be paid a fee. Your house will be foreclosed upon if the loan defaults for any reason.
Q. How certain are you that your associates will be able to perform as they claim?
Q. If you are left holding the bag, can you meet the commitments that your equity is securing so you don?t lose your house?
Q. Is the return worth the risk?
Personally, I?d need a lot more information before I declined.
Re: Has Anyone Heard of Equity Sharing Programs? - Posted by DE
Posted by DE on August 26, 2004 at 21:41:09:
I’m looking at a potential proposed situation here.
The return would not be too bad.
They offer a surety bond for the full appraised value of your home in exchange to use the equity. Even if the loan defaulted one would still get the full value of the house by cashing in the bond.
Do you know of any company who currently offers an equity sharing or equity leasing program? I would like to see how they do things.