Under the new program, homeowner’s can protect their equity in case they need to sell at a loss or home prices fall
ValueInsured has introduced a new offering that would allow homeowners to protect their equity for the future as they refinance their current loans.
Under the new +Plus Equity Protection program for refinanced mortgages, ValueInsured will reimburse up to the full amount of the homeowner's equity if they need to sell at a loss in the future and market home prices have fallen. ValueInsured already offers home down payment protection through its +Plus Down Payment Protection for homebuyers.
"Like down payments, home equity represents a large portion of homeowners' savings," ValueInsured CEO Joe Melendez said. "That's why we're excited to expand our mortgage coverage options and now offer equity protection on home refinances. As we continue to attract more lender partners, the addition of coverage for refinances rounds out our offering and protects the vast majority of all home loan transactions."
ValueInsured said its new program is available immediately through its current network of retail loan officers, correspondent lenders, and wholesalers nationwide.
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Under the new +Plus Equity Protection program for refinanced mortgages, ValueInsured will reimburse up to the full amount of the homeowner's equity if they need to sell at a loss in the future and market home prices have fallen. ValueInsured already offers home down payment protection through its +Plus Down Payment Protection for homebuyers.
"Like down payments, home equity represents a large portion of homeowners' savings," ValueInsured CEO Joe Melendez said. "That's why we're excited to expand our mortgage coverage options and now offer equity protection on home refinances. As we continue to attract more lender partners, the addition of coverage for refinances rounds out our offering and protects the vast majority of all home loan transactions."
ValueInsured said its new program is available immediately through its current network of retail loan officers, correspondent lenders, and wholesalers nationwide.
Related stories:
Downpayment insurance provider picks up $6.5m funding
More Americans now concerned about housing price correction
