What are the options at the end of my term?

You have up to 30 years to repay your HEI (unless your existing agreement specifies a 10-year term.) Your agreement includes the exact expiration date.

Before that date, you can repay by:

using your own funds,
taking out a HELOC or cash-out refinance, or
selling your home and paying Point from the sale proceeds.

If you don’t repay by the expiration date, Point may choose to exercise its option under the agreement. If that happens, Point becomes a co-owner with the right to sell the home. You can continue living in the home until it sells, and you’ll receive your share of the proceeds at closing.

If Point exercises this option, you must cooperate with the sale. Refusing to do so is considered a default under the agreement and could lead to additional actions, including foreclosure. You can contact our servicing team or speak with your legal, tax, or financial advisors at any time to discuss your options.