No monthly payments and no repayment required
The borrower still pays taxes, insurance and maintenance of the property but there are no principle or interest payments as long as borrower resides in the home.
Use the equity in your current home
Tax-free cash for whatever the buyer wishes to spend it on – medical expenses, home renovations, travel & leisure, consolidating debt and more
Purchase loans with less stringent requirements
Purchase a primary residence with less stringent income and credit requirements of a traditional mortgage.