Has anyone used Hometap as an alternative to a HELOC?

[Lex M.]

Has anyone used this company before? https://www.hometap.com/faqs

From their FAQ "We invest in select homes and homeowners with an upfront payment and are paid out of the proceeds when the house is sold or refinanced, which must happen within the term, 10 years after the investment date."

"Unlike a lender, we are not guaranteed a return on our investment. No interest rate, no monthly payments. Instead, we get one payment - based purely on the market value of the home - when you sell, refinance or use savings to pay out your Hometap investment."

It's an interesting concept. Of course, the details of the investment and what they get in exchange for the upfront money would matter greatly.