Equity Snatchers: The Truth About Home Equity Agreements

Quick cash, no interest, no monthly payments—sounds like a sweet deal, right? Wrong. In this episode of Real Estate REPlay, Wendy Gilch teams up with her no-nonsense lender BFF, Chelle Prunkel, to call BS on the slick marketing behind Home Equity Agreements (HEAs). These so-called “loan alternatives” might sound like a dream, but spoiler alert: they’re a nightmare waiting to happen.

From shady equity grabs to terms that can double your payout, Wendy and Chelle rip the curtain off these equity-stealing scams and explain why they’re basically the payday loans of homeownership. Want to keep your house and your sanity? They’ll show you smarter ways to unlock your home’s value without losing your shirt—or your generational wealth.

Plus, we’ll throw shade at predatory ads, highlight how HEAs sidestep key consumer protections, and give you the lowdown on why a nosy loan officer is the hero you didn’t know you needed.

Tune in now for the real talk (and maybe a few F-bombs) you need to protect your biggest investment—your home.

🎧 Links & Resources Mentioned:

• Rate My Mortgage Rate: Get Help With Your Loan Estimate
• Washington State Report on HEAs
• Selling Later's HEA Breakdown
• Contact Chelle Prunkel
• CFPB New Report on HEAs
  • Even though they never respond to anything we send them, we wanted to include this new report from the Consumer Financial Protection Bureau as it confirms just how concerned we should all be about these types of agreements.

Got a question?

State laws and regulations may vary.

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