Hometap review: How a Hometap investment works

July 9, 2020


LendEDU

Previously, in order to access the home equity in your home, you would need to take out a home equity loan or line of credit.

This would come with added debt and a monthly payment. Today, however, there are several new ways to access your home equity. One such option, a home equity sharing agreement through Hometap.

This article is a Hometap Review from LendEDU and originally appeared on LendEDU.com. Read the full article here.


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The Hometap family of companies utilizes Hometap Equity Partners, LLC and Hometap Homeownership Solutions, LLC to provide Hometap Home Equity Investments (HEI or HEIs). Each entity has the ability to enter into a HEI directly with the consumer:

Hometap Equity Partners, LLC dba Hometap. NMLS ID# 2467867 361 Newbury St, 5th Floor, Boston, MA 02115 NMLS Consumer Access

Hometap Homeownership Solutions, LLC dba Hometap. NMLS ID# 2819930 361 Newbury St, Office 450, Boston, MA 02115 NMLS Consumer Access

Hometap Real Estate Equity Partners, Inc. holds real estate brokerage licenses in certain states. California DRE #02191883

A Hometap HEI has a ten (10) year term, during which no monthly or recurring payments are required. Hometap records a lien against the property, in the form of a mortgage or deed of trust, to secure its interest. You may choose to settle the Investment at any time during the term without incurring any penalties by exercising an Owner Repurchase. If you do not settle the HEI by the expiration of the term, your Hometap HEI provider may exercise its right to acquire a percent ownership interest in the property and then work with you to sell the property. You may contact either Hometap entity at hello@hometap.com (for prospective or current applicants) or homeowners@hometap.com (for homeowners with an active HEI) for more information. Eligibility criteria are subject to change. For current criteria, please contact your Hometap HEI provider at (855) 223-3144 or visit www.hometap.com/faqs

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