Shared equity: Difference between revisions
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imported>Tmccormick (Created page with " Shared equity mortage: a mortgage in which the lender gets a share of the equity of the home in exchange for providing a portion of the down payment. When the property i...") |
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Dan Immergluck suggests using "shared-equity homeownership" for programs that have resale restrictions for ongoing affordability; vs "shared-equity mortgage" for those that don't, ie 'investor' type. |
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== References == |
== References == |
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*Downpayment Resource. "[https://downpaymentresource.com/shared-equity-program-models-gain-popularity-municipalities-private-investors/ Shared Equity Programs Gain Popularity for Municipalities, Private Investors.]" 23 August 2017. https://downpaymentresource.com/shared-equity-program-models-gain-popularity-municipalities-private-investors/. <br/> |
*Downpayment Resource. "[https://downpaymentresource.com/shared-equity-program-models-gain-popularity-municipalities-private-investors/ Shared Equity Programs Gain Popularity for Municipalities, Private Investors.]" 23 August 2017. [https://downpaymentresource.com/shared-equity-program-models-gain-popularity-municipalities-private-investors/. https://downpaymentresource.com/shared-equity-program-models-gain-popularity-municipalities-private-investors/. ]<br/> |
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*Wikipedia. "[https://en.wikipedia.org/wiki/Shared_appreciation_mortgage Shared Appreciation Mortgage.]" https://en.wikipedia.org/wiki/Shared_appreciation_mortgage. |
*Wikipedia. "[https://en.wikipedia.org/wiki/Shared_appreciation_mortgage Shared Appreciation Mortgage.]" [https://en.wikipedia.org/wiki/Shared_appreciation_mortgage. https://en.wikipedia.org/wiki/Shared_appreciation_mortgage. ] |
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Latest revision as of 09:55, 27 December 2017
Shared equity mortage: a mortgage in which the lender gets a share of the equity of the home in exchange for providing a portion of the down payment. When the property is later sold, the lender is entitled to a portion of the proceeds.
from Nolo’s Plain-English Law Dictionary
Dan Immergluck suggests using "shared-equity homeownership" for programs that have resale restrictions for ongoing affordability; vs "shared-equity mortgage" for those that don't, ie 'investor' type.
See also: Shared appreciation mortgage (Wikipedia).
References
- Downpayment Resource. "Shared Equity Programs Gain Popularity for Municipalities, Private Investors." 23 August 2017. https://downpaymentresource.com/shared-equity-program-models-gain-popularity-municipalities-private-investors/.
- Wikipedia. "Shared Appreciation Mortgage." https://en.wikipedia.org/wiki/Shared_appreciation_mortgage.