Home Price Protection Product Overview
Buyers of the EquityLock Solutions Home Price Protection contract have a unique ability to hedge their largest asset - their home - against market downturns. Following is an overview of the key contract terms, including coverage, price and payout.
Home prices fluctuate over time. Even in an appreciating market, buyers can experience significant increases and decreases in the value of their home. Since a home represents the largest asset for many individuals, a market drop can have devastating consequences.
With most investments, there are ways to hedge, or reduce risk, against loss. The Home Price Protection contract is an innovative way to protect the value of your home regardless of market conditions.
The Home Price Protection contract is a financial agreement between you and EquityLock Solutions whereby you receive a cash payment at the time you sell your home, if your local housing market index has declined (regardless of whether you sold your home for more or less that the original purchase price). Because claims are based on a decline in the market index, not the value of any particular home, Home Price Protection is not an insurance policy. However, EquityLock Solutions has a reinsurance agreement with a licensed, regulated insurance company to cover claims.
Purchase Home Price Protection on Your Existing Home and Finance for Up to 60 Months.
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