Migliaccio & Rathod LLP is investigating whether homeowners who entered into home equity investment agreements with Point experienced unexpected or improperly calculated settlement obligations when selling, refinancing, or paying off their agreements.
Point provides homeowners with access to home equity in exchange for a contractual interest tied to the property’s future value or appreciation. Although these agreements generally do not require traditional monthly principal-and-interest payments, homeowners must eventually settle their obligations.
The amount owed may depend on the home’s value, appreciation-sharing provisions, the timing of settlement, and other contractual terms.
For example, a homeowner who receives money through a home equity investment may later decide to refinance after only a few years. Depending on the applicable agreement, the settlement calculation may produce a substantial payment obligation even if the property has appreciated only modestly.
The investigation concerns whether homeowners received accurate explanations of these potential costs and whether Point calculated settlement amounts according to the governing agreements.
Migliaccio & Rathod is also interested in homeowners who experienced disputed property valuations, unexpected payoff charges, or difficulties completing refinancing transactions.
Homeowners May Have Experienced:
- Receiving a payoff quote substantially higher than anticipated;
- Discovering unexpected costs when settling an agreement early;
- Receiving a settlement calculation that differed from earlier estimates;
- Disputing the property appraisal used to calculate the payoff;
- Encountering unexpected charges or changing payoff amounts; or
- Experiencing delays or additional expenses when refinancing or selling their home.
Potential Claims May Include:
- Improper settlement or appreciation-sharing calculations;
- Misleading representations concerning early payoff obligations;
- Breach of contract;
- Unfair or deceptive trade practices;
- Unauthorized settlement charges; or
- Violations of applicable consumer-protection laws.
Signs You May Be Affected:
- You entered into a home equity investment agreement with Point;
- You received an unexpectedly high payoff quote;
- You attempted to settle your agreement before its scheduled expiration;
- You disputed the appraisal or valuation used in your settlement calculation;
- Your final payoff differed from the representations or contractual formula you received; or
- You incurred additional expenses because of an unexpected payoff amount or servicing delay.
If you have encountered these issues, we would like to hear from you. Please complete the contact form on this page, send us an email at [email protected], or give us a call.