Equity Share Statement With Loan In Alameda

State:
Multi-State
County:
Alameda
Control #:
US-00036DR
Format:
Word; 
Rich Text
Instant download

Description

In equity sharing both parties benefit from the relationship. Equity sharing, also known as housing equity partnership (HEP), gives a person the opportunity to purchase a home even if he cannot afford a mortgage on the whole of the current value. Often the remaining share is held by the house builder, property owner or a housing association. Both parties receive tax benefits. Another advantage is the return on investment for the investor, while for the occupier a home becomes readily available even when funds are insufficient.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

You can figure out how much equity you have in your home by subtracting the amount you owe on all loans secured by your house from its current value, which you can determine with a formal appraisal or simply estimate using online tools.

USSD 247# This is a mobile banking service offered through a short code 247 #. It is now available through all Telcos in the country (Equitel, Airtel, Telkom & Safaricom).

Taking equity out of your home can be risky because it involves borrowing against the value of your property. This means you are increasing your debt and potentially putting your home at risk if you are unable to repay the borrowed amount.

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Equity Share Statement With Loan In Alameda