Recently Komo 4 published a story called A new way to get equity out of your home. Yeah...someone is trying to help us in this bear market (probably not). A REX Agreement (sounds like wrecks) is an equity investment company in San Francisco. They provide immediate cash with no loan, no interest and no monthly payments.
To qualify for the REX AGREEMENT, you must have a stand-alone home that you live in. Second homes, condos and vacation property are not eligible. You must also have a decent credit score and be financially responsible. Other things to consider are:
Maybe this product would be useful if you are bearish on housing and disciplined with investing and represents a sort of hedge against falling home values. However, the REX Agreement is only offered in selected markets where real estate values are stable. The company analyzes the markets and does a lot of homework before deciding which states are likely to have the best investment potential and consumers should do the same thing. Of course, they are in the business to make money and not likely to enter an agreement if a LOSS is possible.
Why would anyone want to tap into their equity this way if they could qualify for a more traditional, less risky, bank loan with a net lower return of payment? Let's consider this by looking at the numbers.
DOWNLOAD REX LOAN TEST NOW (fill in yellow boxes - the rest will automatically compute)
This product does not seem to benefit anyone except the investor lending to you. For alternative options with your best interest first, please contact Melissa Olson at HOPE Lending LLC.