EquiFi Home Equity Relief Option (HERO) offers relief to homeowners who are suffering from a direct or indirect consequence of COVID-19. Through this program we can protect homeownership for millions of Americans.

• The HERO program is designed for homeowners with sufficient equity in their home to qualify. Those who qualify can elect to receive up to 24 months of income dedicated to paying their mortgage, homeowners’ insurance and property taxes.
• It can even be used to pay back any forbearance and restore credit that may have already been tarnished by forbearance. There are no upfront fees to the homeowner.

With the HERO program we can demonstrate the power of wealth created by homeownership. The HERO program will be available directly from EquiFi’s provider network via a processing portal or through existing mortgage servicers.

Why the Hero Program:

“8.4 million households missed a mortgage payment in the past month.”   –Washington Post, July 14, 2020

Far from being over, COVID-19 will most certainly disrupt the economy in the near future.

• With the intent to reduce the level of unemployment and prop up the economy, the government has allocated trillions of dollars to support the needs of the American people and corporations. Much of this financial assistance for homeowners and renters has focused on postponing the inevitable.
• Subsidies and accommodations will ultimately end or be exhausted, and consumers will be required to start paying their mortgage. Most will have to deal with the lingering burden of satisfying forbearance accommodations.

While renters have few options, homeowners may be able to avoid foreclosure and eviction with the help of EquiFi and like-minded investors.

HERO Program Features:

The Hero program is a practical response to the financial needs of homeowners

• Qualified homeowners will receive sufficient funding to pay off any forbearance and/or bring mortgage payments current. With the HERO program, homeowners can preserve cash to make subsequent payments for 12-24 months or more based on existing home equity
• With sufficient home equity, homeowners can select from several customizable options:
• Continue forbearance until capped and utilize EquiFi co-investment for income continuity over the balance of the selected period of time
• Payoff forbearance and prospectively provide income continuity for mortgage and related payments over the selected period of time
• EquiFi co-investment could serve to supplement the income disparity between unemployment compensation and prior salary/income
• Simplified Processing and Approval
• No appraisal. The program will utilize Automated Valuation Models (AVM)
• Limited underwriting
• Can be processed by EquiFi, lending institution, or mortgage servicer
• NO UPFRONT COSTS. All upfront fees will be paid through the EquiFi and the HERO Investment Fund. Those costs are recouped when the home is sold, or the homeowner prepays EquiFi