brought to you by the every dollar app start budgeting for free today my wife and I

we took out a home equity sharing agreement with one of these companies and we had good intentions

we wanted to pay off some higher interest debt and that all got paid off but now I'm staring at this this

agreement and you know now that it's been a little while I'm looking at it and

it's just becoming more and more daunting so basically they gave us a upfront

cash investment of about $62,000.

And any time between now and about 30 years from now, we can choose to square up with them.

But they get the $62,000 plus 40% of the appreciation of my house from the time we signed there was an

appraisal to 40% of the equity between the time we signed and the time that we settle.

And we have that time.

So I'm just wondering.

So if you did that now now how much would that be today

well we'd have to get an appraisal but approximately yeah um maybe probably around 100 000

okay so this paint makes a payday lender look like a sweet deal.

It really does.

You sold your soul to the devil.

Yeah.

And so hopefully people hear this call and just never do any home equity sharing agreement of any kind.

Yeah.

How long ago did you do this?

It was about eight months.

So that makes it even worse.

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