Unlock Expands Home Equity Agreement Services to Georgia
Unlock Technologies has officially launched its Home Equity Agreement (HEA) product in Georgia, expanding its service availability to over half of the United States. The HEA allows homeowners to access cash from their home equity without incurring monthly payments or refinancing existing mortgages; instead, they provide a share of the home's future value upon the termination of the agreement. The expansion comes as Georgia homeowners face rising costs, with property insurance up 81.8% and property taxes up 27.7% since 2020. With an average of $248,000 in equity per mortgaged homeowner in the state, Unlock aims to capture significant demand from the 37.7% of Georgia's mortgaged homes classified as 'equity-rich.'
Topics: Georgia Market Expansion Home Equity Agreements Real Estate Finance