Definition of Rex agreement:
A method of using home equity to build a line of credit. Under this type of agreement the homeowner receives a one-time cash payment of 12-17% of the homes value in exchange for 50% of the homes increase in value at the time that it is sold. It is typically only available to borrowers with single-family stand-alone homes, who have an above average credit rating.
Meaning of Rex agreement & Rex agreement Definition