Splitero Lawsuit: What Home Equity Investment Homeowners Need to Know

Wilshire Law Firm is investigating whether Splitero’s home equity investment (HEI) agreements function as home-secured loans, and whether homeowners received accurate advertising and all of the disclosures that may be required for mortgage and consumer-credit transactions. Home equity investments are generally marketed as a way to access home equity in exchange for a share of a home’s future value, rather than as a traditional loan.

The central question the investigation is examining is whether, as alleged, these agreements may operate in substance like a loan secured by the home — and, if so, whether the disclosures and protections that typically apply to mortgage and consumer-credit transactions were provided. No court has made a final determination, and the matter remains an investigation into these questions.

The label a company places on an agreement does not always control how the law treats it. Loans secured by a person’s home are generally subject to specific advertising standards and disclosure requirements designed to help homeowners understand the true cost and terms of what they are entering into.

If a home equity investment is later found to function like a home-secured loan, the question becomes whether homeowners received the information they were entitled to before signing. The investigation is looking at whether Splitero homeowners may have been given accurate advertising and complete disclosures, or whether important terms may have been unclear. Whether any claim applies depends on the specific facts and documents involved.

You may qualify for this investigation if the following generally describes your situation:

• You completed a Splitero Home Equity Investment for your primary residence.

To evaluate a potential claim, a legal professional will generally need to review your paperwork. Eligibility is decided case by case, and reviewing your specific agreement is the most reliable way to understand whether you may qualify. Wilshire Law Firm offers free case reviews with a legal professional and is available 24/7.

To help evaluate whether you may have a claim, it is helpful to gather the documents related to your Splitero transaction. In particular, a legal professional will typically want to review:

• Your Splitero agreement (the home equity investment contract you signed).
• The payoff or repurchase quote you received.

Keeping these documents together can make the review process easier. If you no longer have copies, a legal professional can discuss what other records may help. This article is a general overview and is not legal or financial advice; your situation may differ.

Home equity investment agreements can be complex, and the companies that offer them are often represented by experienced legal teams. Working with an attorney can help you understand whether your agreement may raise the concerns this investigation is examining, what documentation may support a potential claim, and what steps you may want to take to protect your rights.

Wilshire Law Firm has a nationally recognized, award-winning team that helps consumers and homeowners understand their options. If you completed a Splitero home equity investment, a legal professional can review your agreement with you at no cost, and because we work on a contingency basis, there are no fees unless you get paid.

If you entered into a Splitero home equity investment on your primary residence, do you know whether you received all the disclosures you may have been entitled to? Our nationally recognized, award-winning team is here to help you understand your rights. Wilshire Law Firm offers free consultations and free case reviews with a legal professional, and we are available 24/7. Because we work on a contingency basis, there are no fees unless you get paid.

Contact Wilshire Law Firm today to schedule your free case review and get your questions answered.