REX & Co., a real estate investment company dedicated to creating safe alternatives to debt financing, is now offering its REX Agreement in Massachusetts. The REX Agreement is a real estate equity financing arrangement that enables homeowners to convert a portion of their home's equity into cash in exchange for granting REX & Co. a portion of the future increase or decrease in the home's value.
In addition to Massachusetts, the REX Agreement is currently available in California, Illinois, Washington and Florida. The product will also be available in Connecticut and Rhode Island in mid-June, the company adds.
To qualify for a REX Agreement, homeowners must have a history of financial responsibility and good credit, and at least 25% equity in their home. The home must be an owner-occupied, single-family detached residence. There are no age restrictions and no restrictions on how the money can be used.
Source: REX & Co., www.rexagreement.com