Senior Equity Solutions is a company developed to provide financial solutions for senior citizens as they journey through their GOLDEN YEARS. We have introduced an exciting new program to homeowners between 64 and 85 years of age that allows access to the FUTURE APPRECIATION of your home. This program is called EQUITYKEY™. The EquityKey™ program is funded and owned by KBC Bank.
HOW IT WORKS:
In exchange for 50% of the future appreciation of any of your real estate, whether it is your primary residence, 2nd home, commercial or rental property you may be eligible to receive 12% to 15 % of today’s current value per owner. Basically, you are selling a percentage of your unknown volatile FUTURE APPRECIATION for cash today. As long as you keep your end of the bargain you never have to pay this money back. There is no interest, no payments and no debt created by this program. The current existing equity in your home will always remain yours.
WHAT IS YOUR END OF THE BARGAIN?
1. You plan to own the property for at least 10 years before you to sell.
2. Continue to make your mortgage payments on your existing loans.
3. Continue to pay your property taxes and maintain homeowners insurance.
4. Finally, maintain your property in a similar condition (minimum deferred maintenance).
HOW MUCH MONEY CAN YOU GET?
The minimum property value should be greater than $450,000. You can combine multiple properties if you desire to maximize the debt free money you will receive. Property values to $3,000,000 are eligible, and higher limits can be approved on exception. If there is one homeowner, he or she can receive from $54,000 to more than $900,000 if both homeowners wish to sell 100% of the future appreciation. Remember the current existing equity remains yours.
WHAT CAN I DO WITH THIS MONEY?
You can do anything you want with this money. Here are some ideas you may not have thought of yet.
1) Gift your children or grandchildren tuition for education or a down payment for their first home.
2) Help pay for your children or grandchildren’s wedding. 3) Donate to your favorite charities.
4) Invest this money in an investment vehicle that will most likely out perform the real estate market.
5) Purchase Long Term Care Insurance or Life Insurance for yourself and/or your spouse. 6) Keep the money in a savings account and let the interest pay for future vacations with your family. 7) Pay off your existing line of credit or mortgage. 8) Pay off your revolving debt. 9) Purchase a new car with out the hassle of making payments. 10) Turn your rental property from a cash hog to a cash cow.
You can do any or all of these things with out adversely affecting your existing retirement plan. If anything you can grow your retirement. Think of how wonderful you feel when you help someone you love.
WHAT HAPPENS IF I WANT TO SELL?
When you sell your property for fair market value, you will split the appreciation from when you entered in to the agreement through settlement. Take a $700,000 home, 10 years later sells for $950,000, the future appreciation is $250,000. Equitykey™ get $125,000 and the home owner gets $125,000. We originally gave the homeowner, $84,000.00 to $ 105,000.00. *A portion of the money received will be due to Equitykey™ upon an early sale transaction at a reduced amount per year for the first ten years.
WHY WOULD WE DO THIS?
Each client of the Equitykey™ program must qualify for a life insurance policy which Equitykey™ pays for and is the beneficiary, in case of an untimely death and not enough time has passed for sufficient appreciation. There is no early sale charge if the you pass away.
HOW MUCH DOES THIS PROGRAM COST?
There is a $300 refundable application fee. Unlike a reverse mortgage or any other type loan, there are no closing costs. At the end of the agreement, if the heirs elect not to retain the property, Equitykey™ will retain up to 8% of the FMV to pay the actual costs incurred to resell the property. Keep in mind these cost are incurred with or with out the program.
HOW DO I FIND OUT IF I AM ELIGIBLE?
If you are relatively healthy and between the age of 64 and 85, you are a non-smoker, do not have type 1 diabetes, have not had any recent bouts with cancer, recent heart or uncontrolled high blood pressure issues you will want to contact the number below:
For Further Information contact
Doug Olson at 858-597-5426 or Regina Lopez at 858-597-5432