单词 | Rex agreement |
释义 | Rex agreementDefinition A method of using home equity to build a line of credit. Under this type of agreement the homeowner receives a one-time cash payment of 12-17% of the home's value in exchange for 50% of the homes increase in value at the time that it is sold. It is typically only available to borrowers with single-family stand-alone homes, who have an above average credit rating. |
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