Like a lot of homeowners, Schummer was keen to convert some of his theoretical wealth into real cash. These kinds of deals, often referred to as home-equity-sharing agreements or home-equity investments, have existed on the fringes of housing finance for decades. The success or failure of home-equity investments could shape the future of homeownership in America. If the home's value has gone up, everyone wins; sell it for a loss, and the investor might share in that downside. "Over time for us, the customer becomes everybody," Eoin Matthews, the chief business officer and a cofounder of Point, told me recently.

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Persons: Kennis Schummer, Schummer, Laurie Goodman, Goodman, he'd, Eoin Matthews, —, Hometap, Jim Riccitelli, Riccitelli, Adam Rust, Rust, Rust wasn't, I'm, Jordan Gilberti, Holly Bunting, Mayer Brown, Edwin Remsberg, Matthews, they'd, Jeffrey Glass, Glass, I've, he's Organizations: Consumer, Urban Institute, Federal Reserve, Bain Capital, Palisades Group, Redwood Trust, Getty, Consumer Federation of America Locations: Pensacola , Florida, California, homeownership, America, Connecticut, Maryland, Florida