So, ever hear of this?
https://point.com/calculator?utm_campaign=conquesting&utm_source=bing&utm_medium=cpc&utm_term=unison%20reviews&utm_content=&msclkid=a59f373f782c135c2da8567817ef4ae3
Got a letter yesterday offering us $$ no payment, no interest, but when the home is sold they get 50% of the appreciation.
Example given,
The appraised value is now $400,00
Starting value after adjustment $390,000
Sell your home for $490,000
UNISON shares in the $100,00 change in value.
Not planning to do this, but interesting
IC
unison, ever heard of this? money now and they get a share of appriation in the home.
Re: unison, ever heard of this? money now and they get a share of appriation in the home.
Wonder what happens if the economy tanks and your home loses value?
Years ago I gave some thought that if DH were to pass before me I might do a reverse mortgage. Since we have no heirs it seemed like a valid possibility. But now I know I could never stay in this house - it would be far too much for me to manage.
Years ago I gave some thought that if DH were to pass before me I might do a reverse mortgage. Since we have no heirs it seemed like a valid possibility. But now I know I could never stay in this house - it would be far too much for me to manage.
Patty
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Re: unison, ever heard of this? money now and they get a share of appriation in the home.
I've never heard of this.icfrugal1 wrote: ↑Sun Sep 19, 2021 1:42 pm So, ever hear of this?
https://point.com/calculator?utm_campaign=conquesting&utm_source=bing&utm_medium=cpc&utm_term=unison%20reviews&utm_content=&msclkid=a59f373f782c135c2da8567817ef4ae3
Got a letter yesterday offering us $$ no payment, no interest, but when the home is sold they get 50% of the appreciation.
Example given,
The appraised value is now $400,00
Starting value after adjustment $390,000
Sell your home for $490,000
UNISON shares in the $100,00 change in value.
Not planning to do this, but interesting
IC
Re: unison, ever heard of this? money now and they get a share of appriation in the home.
Oh how I would LOVE to read the legalese on one of their contracts (not a lawyer, don't play one on TV, but read loads of legalese due to work junk). I'd bet whatever shady nonsense this is should be illegal, because you know this loan organization is making sure they cover themselves in the event of a *pop* in the real estate bubble or any other thing that drives down home values, probably even to being the first to get a payout in the event of a large insurance claim. And the terrifying thing is people will fall for it (particularly those in dire financial straights who somehow still have - or desperately want to retain - their homes). It's predatory lending in a new form.
I had an aunt in France (died a couple of months back) who took out the rough equivalent of a "reverse mortgage" decades ago. I don't think the company that extended it counted on her living well into her 90s. Another aunt was given less than a month to get everything out of it that the family wanted to keep, then bam, up went the for sale sign. Apparently there these things are cut and dry and no estate "settling" interferes with possession.
I had an aunt in France (died a couple of months back) who took out the rough equivalent of a "reverse mortgage" decades ago. I don't think the company that extended it counted on her living well into her 90s. Another aunt was given less than a month to get everything out of it that the family wanted to keep, then bam, up went the for sale sign. Apparently there these things are cut and dry and no estate "settling" interferes with possession.
Re: unison, ever heard of this? money now and they get a share of appriation in the home.
I think only the home owner, and the bank holding the mortgage, should be the only people with their fingers in the home. A home equity loan, or line of credit, from the same bank, for urgent repairs or improvements, should be the only access to the equity.
Any company that has access to even the tiniest part of the home value or ownership could spell serious disaster. These companies want to make money, of course, so their interest lies with themselves, not with the home owner.
With the company mentioned, I have to wonder what happens if the home is damaged or lost to fire, tornado, flood, quake, etc. Do they take all the insurance money? Do they take so much of it that you can't rebuild anywhere? Do they then own part of your rebuilt or new home?
Any company that has access to even the tiniest part of the home value or ownership could spell serious disaster. These companies want to make money, of course, so their interest lies with themselves, not with the home owner.
With the company mentioned, I have to wonder what happens if the home is damaged or lost to fire, tornado, flood, quake, etc. Do they take all the insurance money? Do they take so much of it that you can't rebuild anywhere? Do they then own part of your rebuilt or new home?
ohjodi