Cornerstone Financing CEO Outlines Advantages of Shared Equity Models in Kiplinger
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Cornerstone Financing CEO and co-founder Craig Corn has written an article for Kiplinger that explains how shared equity models are more effective routes to paying for retirement and long-term health services than other options.
The article, titled, “Home Equity Evolution: A Fresh Approach to Funding Life’s Biggest Needs,” walks readers through the options that financial advisors and their clients consider when looking to convert home equity into income.
Those include home equity lines of credit, reverse mortgages, and cash-out refinancing. But Corn points out that shared equity models “aren’t loans and don’t require servicing debt obligations.”
Shared equity models allow homeowners to sell a minority share in their homes to convert home equity into tax-free cash to fund financial strategies with having to go in debt or liquidate portfolios.
Corn goes on to list the pros and cons of shared home equity, and concludes by writing, “Shared equity solutions are modern financing innovations that offer pragmatic alternatives that empower both homeowners and financial advisors to achieve their goals while maintaining control, flexibility and long-term value.”
Cornerstone Financing offers its own shared equity strategy, called CHEIFS (Cornerstone Home Equity into Financial Success), which allows homeowners to tap into their dormant home equity without debt, while keeping their existing investments intact and enhancing efficient financial planning.
