NACA in the News: Consumer group sues Unison, alleging deceptive marketing of ‘no-debt’ home equity investment

Housing Wire, Consumer group sues Unison, alleging deceptive marketing of ‘no-debt’ home equity investment

“Unison, one of the nation’s leading providers of home equity investments (HEIs), is facing a lawsuit from the National Association of Consumer Advocates (NACA), alleging that Unison deceptively markets its product as a ‘no-debt’ home equity alternative.

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Despite this, NACA says the company promotes the offering as an ‘equity sharing agreement’ or ‘home equity investment’ that involves no debt, carries no interest and requires no monthly payment. The group characterizes these labels as misleading because they frame the transaction as a simple partnership rather than a high-cost loan. NACA is seeking to halt Unison’s practices in Washington, D.C., and void existing agreements.​​”