Has anyone ever heard of Home Price Protection ?

[kenl314]

Its a contract/ insurance policy (per se) that a new buyer can get on a home to protect them against further declining local home values.
I guess its pretty new.
Company called EquityLock Financial offers it.  Curious if anyone has used it or heard anything about it around their market area.  Thanks,
Ken

[Gold River]

Hi,

     I have but you might want to read all the fine print, terms and conditions and exclusions before jumping onboard, and it's certainly not cheap!


                GR

[scostell]

That sounds like Best Buy's "Buy Back" program.  Sounds like another way for companies to take your money.

[Carla Hailey]

With home price protection,  property owner will receive cash after the property is sold. I think it is innate for a seller to provide the insurance that price protection involves.

[Matthewbrown]

Equitylock is offering homeowners protection against falling home prices. You buy a contract based on a local index of home values, but you must be in the home at least two years.