Leaders of equity sharing companies claim their products differ from reverse mortgages, but a current court case is challenging that distinction under Washington state law.
The Olsons entered a Unison agreement believing it was not a loan, only to discover their situation resembled a reverse mortgage, raising legal concerns.
Advertisements for Unison promised no monthly payments or interest, but plaintiffs like the Olsons later faced financial hardships and limited access to treatment of their properties.
Maggie Colin's experiences with Unison show how agreements can hinder refinancing options, sparking debate about the legitimacy of equity sharing vs. reverse mortgages.
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