Latest Content > Vesta Equity Launches an Industry First Solution Enabling Homeowners to Walk Away From Their Mortgage Debt-Free!
Vesta Equity Launches an Industry First Solution Enabling Homeowners to Walk Away From Their Mortgage Debt-Free!
Los Angeles, CA – September 7, 2022 - Vesta Equity, an innovator at the intersection of financial services, real estate, and blockchain is announcing the launch of their ground-breaking mortgage exit solution. This new feature will be accessible to all homeowners through Vesta Equity’s global real estate platform. Vesta Equity is the world's first peer-to-peer marketplace for real estate-backed tokenized assets that allows homeowners to easily leverage and sell a portion of home equity while simultaneously providing direct investor access to residential real estate.
Vesta Equity’s mortgage exit solution allows homeowners to scrap their mortgage and never worry again about debt and costly monthly payments. Even in low interest rate environments, the compounding impact of interest results in significant payouts to banks over the term of a loan. As we now step into a cycle of rising interest rates, even more homeowners are going to be forced into higher costs of living. They will be scraping by, not living life to its potential, or saving for their future.
With Vesta Equity's mortgage exit solution, homeowners with a primary mortgage or existing liens can designate a minimum dollar amount required to pay them off. During the listing process, homeowners simply present the documents indicating the total dollar amount due to the lender - such as a payoff letter. These are then validated by Vesta Equity and its title partners. Homeowners can also include closing costs as part of the minimum target. Investor funds that are committed to the listing are held securely in escrow until the listing reaches its target. At this point, funds are used to execute the payoff and reconveyance of title. In addition to the minimum, homeowners can also opt to sell more equity. These additional funds will be transferred directly to the homeowner’s wallet once the property has been secured. This allows homeowners to sell enough equity to become mortgage-free while accessing more equity for cash to pursue their life’s ambitions and financial goals.
"We liberate capital," said Michael Carpentier, CEO and Co-Founder of Vesta Equity. "With today's feature launch, we are an example of a company using blockchain for what it was designed: remove friction from traditional exchange of value systems, to drive financial freedom, and prosperity for homeowners and investors everywhere."
“Imagine no mortgage on your home while still retaining full residential rights,” said Imran Rahaman, COO and Co-Founder of Vesta Equity Inc. “Debt forces people into financial servitude and our solution frees them of this burden while allowing investors unencumbered access to a wealth of home equity investment (HEI) opportunities that traditionally have been locked down and controlled by a host of intermediaries.”
For more information on Vesta Equity and their home equity marketplace, please visit: https://www.vestaequity.net. To sign up as a property owner and access the equity in your home click here. To sign up as a property investor to build a portfolio of real estate assets, click here. Follow us on twitter @vestaequityvpm.
About Vesta Equity
Vesta Equity is building the future of home equity financing. Homeowners and property investors traditionally tethered to age-old institutionalized financial practices will be free to manage their assets and investments to serve them best. Through tokenization and Vesta Equity's Property Marketplace, homeowners and investors will be able to deal directly with each other without using intermediaries that carry burdensome costs, one-sided terms, and risks. Vesta Equity's proprietary approach of coupling tokenization with smart contracts will enable homeowners to sell a portion of their home to investors while retaining their residency. For the homeowner, it means no more debt, compounding interest, and monthly payments. Investors will now have the freedom and ease of access to build and manage a portfolio of property types across geographies and partake in property appreciation with 100% asset transparency. Vesta Equity is enabling an open market integrated with blockchain's immutability to create a more inclusive and dynamic model for the multi-trillion-dollar global home equity market.
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