Would you be willing to give away 1 percent of your home’s value if it meant not having to worry about losing more?That is the essence of a product introduced this month by Working Equity Inc., a San Francisco company recently started by former financial services executives.Industry analysts and financial consultants suggest that the product could be useful to homeowners but should be approached with caution.With the product, Equity Protection, a homeowner is charged a one-time fee of 1 percent to 2.5 percent of a home’s value, which is determined by the company…Homeowners are essentially guaranteed that when they sell their home, they will not lose money because of a market downturn, even if the sale price falls below the home’s value at the start of the contract.
By Bob Tedeschi, Oct 18, 2009 NYT

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