The Alternative to a Home Equity Loan, Equity Line of Credit or Reverse Mortgage
A SHARE Agreement is ideal if you need cash right now, and you do not want the added debt and monthly payments of a home equity loan or a line of credit.
The SHARE Agreement concept is a new home finance model. The Agreement creates a partnership between you and the investor. These are the features and benefits:
- You get the cash you want and need NOW...
- There are NO interest charges.
- There are NO monthly payments.
- You do NOT have pay back the money until you sell your home. Up to 30 years.
- It is called a home ownership investment. There is an investment made in your home alongside you by providing you a lump sum of cash in exchange for long term financing and the opportunity for the investor to share in the gain of your home’s value when you sell.
How it Works
The investor partners with you by providing you an upfront cash payment today of up to 17.50% of your home’s current appraised value.
You make no payments until you sell your home. The investor is your partner, but you are the sole owner of your home. And like any homeowner, you can sell your home any time you choose.
How does the investor make or lose money?
When you decide to sell, you make a single payment from the sale proceeds. If your home value has increased you agree to share a percentage of the gain with the investor. If your home’s value has decreased, the investor agrees to share the very same percentage of the loss with you. It is that simple.
You’re in Control
Again, there is no re-payment until you sell your home. Also, you have the option to buy out the investor any time after 3 years and conclude the Agreement.
Applying and Approval are Easy
- Your property gets pre-qualified and you complete an application.
- An independent appraiser determines the current value of your home.
- The amount of upfront cash available to you is based on your home’s appraised value and how much of the future change in value you are willing to share.
- You decide how much cash you want in exchange for a share of the future change in value (up or down).
- Approval and cash in your account takes less than 45 days.
The Agreement is available to homeowners who have:
- At least 25% equity in their home.
- Good credit
- A property that is typical for the area and is a single family residence detached structure, condo, townhouse, or planned unit development.
- The home should be your primary residence. Some second homes may qualify.
- No rental properties
The SHARE Agreement is a Better Alternative to a
HECM & Jumbo Reverse Mortgage.
- The Agreement best features are there are NO interest charges and NO monthly payments, EVER.
- Plus you do NOT have to pay back the money you received until the last person on title sells, moves or dies. Or up to 30 years.
- The number one negative about any reverse mortgage is the high compounded interest charges that will eat up a lot of your equity over time. Sometimes all of it, if you live a very long time.
- Just the opposite with a SHARE Agreement ALL your existing equity remains yours and is protected throughout the term of the agreement.
- Another SHARE Agreement feature is there are no age restrictions. It is ok to be under age 62 or over 62. Age does not matter.
- You can use the upfront cash you receive any way you wish.
- Most home owners are using the money wisely. They are paying off their debts. Especially credit card balances with high interest charges.
- Or a balloon payment coming due on their Equity Line of Credit.
- A SHARE Agreement done SMART will reduce your debt and increase your monthly cash flow.