Has anyone ever heard of Home Price Protection ?

Its a contract/ insurance policy (per se) that a new buyer can get on a home to protect them against further declining local home values.
I guess its pretty new.
Company called EquityLock Financial offers it. Curious if anyone has used it or heard anything about it around their market area. Thanks,


 I have but you might want to read all the fine print, terms and conditions and exclusions before jumping onboard, and it's certainly not cheap!


That sounds like Best Buy’s “Buy Back” program. Sounds like another way for companies to take your money.

With home price protection, property owner will receive cash after the property is sold. I think it is innate for a seller to provide the insurance that price protection involves.

Equitylock is offering homeowners protection against falling home prices. You buy a contract based on a local index of home values, but you must be in the home at least two years.