I am still troubled by the fact that the agreement does not fully understand the laws behind it. I am a mortgage broker in the San Francisco Bay Area. I refinanced a client in 2018 and found out they had a REX deal with Unison. I am trying to find out whether he would have paid the effective interest rate if he had been able or willing to repay the agreement he reached in October 2015. Like a reverse mortgage, individuals must live in their home for the duration of the Unison HomeOwner agreement. If care needs require a person to have to leave their home for more than 180 consecutive days and it is clear that they will not return, the Unison HomeOwner agreement will be due. If this happens within the first three years of the deal and the house has lost value due to fair market conditions, Unison will not participate in the loss. * Note: Unison`s net return at the end of our agreement is the same as the simplified, non-optional mathematics, which shows that access to 10% of a home whose value increases from $500,000 to $600,000, results in a net payment to Unison of $US 90,000 at the time of sale. This will be the worst financial mistake I have ever made and I am not entirely sure how I will recover or how best to proceed, which is in my best interest to get out of this agreement with them. I wasn`t in terrible financial stress when I got the loan just to consolidate the bills and pay other debtors. The salesperson convinced me that this was the perfect option for me, but it clearly wasn`t.

I didn`t really understand that I was exchanging my home for this loan. I know they say it`s not a loan, but in email correspondence with my lender that I`m trying to refinance, they call it a loan. The benefits of the Unison HomeOwner Agreement are paid in a lump sum at the time of entry into the contract. There are no restrictions on how the product can be used. People who enter into a Unison HomeOwner contract receive up to 20% of the value of their home in cash. This amount varies with the percentage of future home appreciation that a legitimate applicant is willing to share. The maximum amount of the benefit is approximately $500,000. . . .