Coming to San Mateo Home Show Sept. 26-28
San Mateo, Calif., September 25, 2014 -- When the Home Show opens in San Mateo this week, a new tool for homeowners seeking increased liquidity and control over their wealth management will be there. Only available in certain residential markets, and recently rolled out in Northern California, this tool makes significant amounts of cash available to qualifying homeowners in exchange for sharing a portion of the future potential appreciation of their home. There is no debt, monthly payments, nor fees and the homeowners get to keep and protect their current equity.
“We like to say that this is a way to put America’s Favorite Asset — your home — to work for you,” said Steve Hotovec, principal of Barastone, LLC, the San Mateo firm bringing this product to the Bay Area. “Our homes represent a large chunk of our personal wealth, but, until now, there have been very limited options to access that wealth without going into debt.”
“At the Home Show, visitors looking to remodel that master bathroom, add an outdoor kitchen, or undertake any costly upgrades or remodels, can stop by to talk with us about how this tool may provide the funds to turn their dream project into reality,” he added.
Home Appreciation Rights programs differ from conventional mortgage or cash lending instruments in the following ways; there are no monthly fees nor incurred debt, no service fees nor points, no restrictions as to how the cash received can be used, and the homeowner keeps and protects their current equity in their home.
The program is ideal for homeowners who have achieved a reasonable level of equity in their homes and plan to keep them for many years to come.
The entire process only takes between 4-6 weeks, and the homeowner receives payment without restriction as to the use of the funds. He or she can choose how to use the cash. Some possible uses include: repaying debts, funding education, travel, making home improvements, diversifying investments, or funding a start-up business.
The process and terms are customizable to each individual homeowner.