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What do you actually need to do during a Home Equity Agreement (HEA)? It’s simpler than most people think. Here are 5 key responsibilities to know 👇

1. You still handle your core home payments. That includes your mortgage (if you have one), property taxes, HOA fees, and any loans tied to your home.

2. Maintain proper insurance coverage. You’ll need homeowners’ insurance that covers your home’s replacement cost. If you’re in a higher-risk area (like a flood zone), that may include extra coverage.

3. Take care of your home. Regular maintenance and timely repairs are part of the agreement. Normal wear and tear is expected, but neglect that impacts your home’s value needs to be addressed.

4. Handle major issues if they arise. If significant damage occurs, you’ll need to file an insurance claim and restore the home. If insurance doesn’t fully cover repairs, you’re responsible for the difference.

5. Keep us updated on significant changes. Life changes such as renting out your home, placing it in a trust, or other ownership updates can affect your agreement and should be reported.



NMLS # 2657081 www.nmlsconsumeraccess.org

Your home has two values, and they’re not the same 👇
∙ Market value is what a buyer would pay for your home today.
∙ Assessed value is the taxable value assigned by your local government and used to calculate your property tax bill.

🔑 And here’s the key: both are frequently changing.

🏡 It can shift based on location, size, condition, upgrades, and what similar homes nearby are selling for. Even the market plays a role. Interest rates, inventory, and seasonality can all change what buyers are willing to pay. That January slowdown? Very different from a competitive summer market.

✨ Bottom line: your home’s value isn’t static; it’s constantly evolving. Which is why checking in on it regularly matters more than most people think. If your home value changed this month… would you notice?