A national real estate investment firm has established a partnership that provides homebuyers home price protection if a local market shift occurs.
Tucson, Ariz.-based
An EquityLock Protection contract protects the value of a customer’s home from future local market declines for up to 15 years. The property owner will be eligible to file a claim to recoup up to 20% of their original protected value amount when they sell their home in the future.
At time of contract, the EquityLock Protection contract uses the
“In an unstable housing market, homebuyers need assurance that forces beyond their control will not turn their most valuable asset into a liability,” said Ben Alev, president of Conix. “We are excited to be partnering with EquityLock Solutions to provide the mortgage sector’s only consumer-ready valuation hedge, which gives homebuyers the confidence they need to enter the housing market.”
Alev added that with this extra security from the Denver, Colo.-based home value protection provider, consumers will now be willing to pay more for REOs that are in Conix’s portfolio.
“The bottom line is that use of the EquityLock contract adds real value for us and our investors,” said Court Gettel, chairman of Conix Inc. “Most of all, homebuyers receive peace of mind about the prices they’ve paid. This is truly a win for all parties involved.”
