Hometap
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They advertise that they will make a…
They advertise that they will make a percentage based investment based on the current value of your home with no interest or hidden fees. What they tell you is that you have 10 years to repay their initial investment which will be equal to the exact same percentage of the current value of your home at the time you choose to settle your debt with them. They also state that if the value of your home depreciated they eat it as a reasonable part of risk and that all you owe them is the same exact percentage of your homes current value at the time you choose to settle. Then you have an initial phone consultation where they repeatedly say the same exact thing about the settlement being the exact same percentage of your homes current value at the time of settlement. Then when they think you are desperate enough and hooked on the deal. They send you a link that gives them control if your phone screen. This is when they start disclosing that the percentage they take upon settlement increases astronomically every year you haven't settled. Per the example they used with me an initial 10% percent investment would be a 13% return if I settle in 3 years. If I were to use the entire 10 year term they allow the percentage would now be well over 20% of the market value of my home at that time. They have zero explanation for the increased percentage and how it is the opposite of the terms they offered upfront and confirmed repeatedly during the initial half of the phone consultation. They specifically make sure they control your screen so you have no evidence of their attempts at extortion. This is what criminals known as loan sharks do. They go to jail for extortion and every member of this criminal organization belongs in jail with all the other extortionists. Their positive reviews are most likely fabricated by them or posted by desperate people in a bad financial situation who needed the cash so desperately they failed to see the long term costs and were made before they settled up at more than 2 times the percentage of the initial investment. And that percentage they take is based on the current and usually much higher value of your home, especially since these *investments" are only given to home owners looking to use the funds for home improvement . I caution everyone to stay aware of their longterm scheme and dont choose immediate satisfaction that hurts you in the long run. Avoid this criminal organization at all costs. I wonder how long they will let this review remain.