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#83 - How Home Equity Agreements Prey on the Desperate
Manage episode 406418997 series 2093982
In this episode of the Replace University podcast, host Michael Lush explores the intricacies of Home Equity Agreements, a financial product distinct from traditional home equity loans or lines of credit. Lush delves into why these agreements have become popular among companies, highlighting their profitability and potential consumer risks and drawbacks. He shares a personal experiment with a home equity agreement to demonstrate the terms, conditions, and the significant cost it can entail, especially for those with lower credit scores or in desperate financial situations, likening it to payday lending practices. Lush advises caution and thorough consideration before engaging with such agreements.
Teaching how you can pay your mortgage off in 5 years or less. Here's how. 👇🏼
To start building the life you want: https://replaceyouruniversity.com/
Follow Replace Your University on Instagram: https://www.instagram.com/the_realryu/
Join Us on Facebook: https://www.facebook.com/ReplaceYourUniversity/
Check out more tips and strategies on our YouTube channel: https://www.youtube.com/@ReplaceYourUniversity
99 episodios
Manage episode 406418997 series 2093982
In this episode of the Replace University podcast, host Michael Lush explores the intricacies of Home Equity Agreements, a financial product distinct from traditional home equity loans or lines of credit. Lush delves into why these agreements have become popular among companies, highlighting their profitability and potential consumer risks and drawbacks. He shares a personal experiment with a home equity agreement to demonstrate the terms, conditions, and the significant cost it can entail, especially for those with lower credit scores or in desperate financial situations, likening it to payday lending practices. Lush advises caution and thorough consideration before engaging with such agreements.
Teaching how you can pay your mortgage off in 5 years or less. Here's how. 👇🏼
To start building the life you want: https://replaceyouruniversity.com/
Follow Replace Your University on Instagram: https://www.instagram.com/the_realryu/
Join Us on Facebook: https://www.facebook.com/ReplaceYourUniversity/
Check out more tips and strategies on our YouTube channel: https://www.youtube.com/@ReplaceYourUniversity
99 episodios
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