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Article: Getting Closer to a Home Equity Loss Protection Product?(News)
- Article from:
- National Mortgage News
- Article date:
- October 12, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amilda Dymi
NEW YORK-Millions of homeowners "underwater" and improvements in housing prices have renewed efforts to create a viable insurance product that would protect homeowners from home-equity loss. Is it doable?
A group of Fortune 100 executives that launched Working Equity Inc. and its signature product, Equity Protection, say yes.
Working Equity Inc. says there is a "pressing need" for homeowner loss of wealth protection. Working Equity co-founder Craig Schmeizer argues that home-equity insurance provides homeowners the type of protection available to lenders through private mortgage insurance.
To Steve Curnutte, ...