Truehold offers a sale-leaseback service that allows homeowners to sell their property and remain as renters, providing immediate access to cash without the burden of mortgage debt. This model addresses the financial strain of property taxes and maintenance costs for seniors, enabling them to unlock their home equity while continuing to live in their cherished homes.
Funding
$63.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many homeowners, particularly seniors, face financial challenges due to the burden of property taxes, insurance, and maintenance costs, while also desiring to remain in their homes. Traditional options like reverse mortgages can be complex and create future debt obligations.
Solution
Truehold offers a sale-leaseback program that allows homeowners to sell their property at a competitive price and continue living in it as renters. This provides immediate access to the home's equity, which can be used for retirement, investments, or other financial needs, without the complexities of debt products. Truehold handles property taxes, insurance, and essential repairs, providing financial flexibility and peace of mind. The process involves a no-obligation offer, a standard home inspection, and a straightforward sale and lease agreement.
Target Audience
The primary target audience is homeowners aged 55 and over, especially those seeking to unlock home equity for retirement or other financial needs while remaining in their homes.
Features
- Competitive cash offer within 48 hours of initial contact.
- Standard lease agreement with monthly rental payments.
- Management of property taxes, property insurance, and essential repairs.
- Option to remain in the home after the sale.
- Streamlined process with a dedicated Truehold representative.
- No debt obligations or repayment requirements.