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Home‑equity investments and shared‑appreciation agreements draw mixed testimony; consumers praise access, advocates warn of balloon risks
Summary
Homeowners who testified said shared‑appreciation/home‑equity investments (HEIs) can be a lifeline when traditional credit is unavailable; consumer advocates and the National Consumer Law Center warned HB 5209 is needed to protect older and cash‑poor owners from large lump‑sum payoffs and loss of lifetime equity.
The committee heard competing views on HB 5209, which would impose additional consumer protections on shared‑appreciation agreements (also called home‑equity investments, HEIs, or SAAs).
Several Connecticut homeowners described how HEI products — most commonly offered by licensed lenders such as Point and others — allowed them to preserve ownership or pay urgent bills when HELOCs, refinances or traditional loans were unavailable…
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