Barastone Announces Innovative Home Liquidity Program
SAN MATEO, Calif., April 16, 2014 -- Owning a home in California can be costly, and for many people, the home they own is their largest single asset. Traditional means of accessing cash require them to incur more debt or surrender some of the equity they have worked hard to build. Barastone LLC, a financial services firm, today announced a solution that offers qualifying homeowners the opportunity to access cash now in exchange for a portion of their homes’ potential future appreciation.
“Everyone knows that having liquidity — access to your own cash when needed — is an important aspect of personal finance. Homeowners in need of cash have been limited by various remortgaging options, or the forced sale of our homes, until now,” said Mark Rogers, president of Barastone. “This new program offers a streamlined approval process and prompt cash payout, which is essentially a payment today in exchange for share in the potential appreciation of your home’s future market value,” 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.