Are there different prices for different areas?
The fee for the Home Price ProtectionTM contract is determined by individual geographical/market and personal characteristics. Each market is different and some can be more volatile than others. Because Home Price ProtectionTM contracts provide a way to reduce risk, the contracts are priced according to their expected risk. Most contract fees will be about 1.5 percent of the value of the home. • What happens if the homeowner defaults on their mortgage? If the homeowner wants to sell their home in order to avoid a foreclosure, they will still be eligible for a payment so long as the other conditions are met. If the bank has completed a foreclosure on the home, however, EquityLock Financial will not make a payment. • What happens if the homeowner refinances their mortgage? Refinancing a mortgage will not change the terms of a Home Price ProtectionTM contract. Homeowners refinancing their mortgage will retain their original contract. They likewise will not receive a payment upon refinance
