Wouldn people who knew that prices were going to decline in their area be more likely to sign up?
Perhaps. Our goal is to provide greater peace of mind to homeowners, whether the market goes up and down. People will feel more comfortable living where they want, regardless of what direction the market takes. To manage our risk, there may be limits to how many contracts we’ll do in a certain area. • What’s the difference between this and mortgage insurance? Mortgage insurance pays the lender if on resale there’s not enough equity on the loan. Home Price ProtectionTM contracts pays the homeowner if the value of real estate in the local area declines. People buy private mortgage insurance all the time. All that does is protect the lender, not the risk to a homeowner’s equity if the local market declines. If you’re going to buy mortgage insurance, why not protect your own interests against the risk that the real estate market will decline. • How much is this going to cost me? A Home Price ProtectionTM contract for a $300,000 home, would cost about $4,500. There are various options to pa
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- Wouldn people who knew that prices were going to decline in their area be more likely to sign up?
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