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please define the "REX agreement"

glossary FAQ: glossary.
Colt W. From United States
10 March, 2009

An alternative to a home equity line of credit (HELOC) and refinancing that allows homeowners to access the equity in their home. The agreement is offered by REX & Company, and it gives homeowners a cash payment of 12 to 17% of their home's market value under the stipulation that REX & Company receives 50% of the increase in the house's value when it is sold. This program is designed for homeowners with above average credit, with single-family detached houses. In addition, homes valued in the top or bottom 10% of their local market cannot participate. For example, if you own a house worth $400,000 and you sign a REX agreement, then you could be eligible for a cash payment of $48,000-68,000. For the purpose of this example, lets say you took $50,000. If you sold your house 10 years later for $600,000, you would owe REX & Company $150,000, calculated as the return of the initial payment plus one half of the increase in your homes value ($50,000 + [$200,000/2] = $150,000). In this example, you would have paid an annualized interest rate of 11.6%. Here is another example, where the results are not as pretty. As in the above example, your house is worth $400,000 when you sign the REX agreement, and you are given a lump sum payment of $50,000. Let's say that there is a family emergency, and you have to sell your home two years later for $425,000 (approximately 3% growth rate per year). In this case, you would owe REX & Company $62,500. If you still owed $370,000 (a definite possibility if you had a mortgage with a long amortization, had a small downpayment, or had an interest-only mortgage), you could be out of pocket $7,500. In this example, the annualized interest rate was 11.8%. Depending on your individual financial situation, this may or may not be an acceptable strategy. Prudent home owners should talk to a financial professional about their options before deciding on any method of accessing the equity in their home. Visit etoro.info

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Forex platform Recommends FX Solutions
Background:
The rather green retail online forex service provider FX Solutions is located at Saddle River Executive Centre, 1 Route 17 South, Saddle River, New Jersey, 07458 United States. FX Solutions is regulated by NFA and CFTC.
Some Specs:
This forex features twenty four hour trading and customer support. Honestly, this platform's not really about innovation, but instead, it uses the more established workings of previous mainstream forexes. It is nothing to do with right or wrong, it's more a question of aesthetics. This one's a great selection for a first time user as it provides an exclusively produced explanatory platform. You should also know, that if you presume that less is more - you're wrong.
Ups:
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Downs:
- Confusing Options - High Minimum Deposit
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A feature full yet somewhat complex choice. I gave it a 3 out of 5 rating.