Class Action Lawsuit Filed Against Unison, Alleging Company Trapped Colorado Homeowners in Predatory Home Equity Agreements
Denver, CO – A class action lawsuit has been filed on behalf of plaintiffs Katharine and Charles Kane against Unison Agreement Corporation, Unison Investment Management, LLC, and Real Estate Equity Exchange, Inc. (collectively, "Unison") in the United States District Court for the District of Colorado. The suit alleges that Unison lured Colorado homeowners into high-cost home equity agreements by falsely marketing its product as an interest-free "option contract"— a characterization the complaint alleges was designed to evade state consumer credit, mortgage lending, and consumer protection laws.
Unison, a San Francisco-based company, markets its home equity product as a simple way for homeowners to access their equity with "no debt," "no interest," and no monthly payments, positioning itself as a financial "partner" with homeowners. According to the complaint, the reality is far different. Unison's agreements function as high-cost loans that impose a substantial lump-sum repayment obligation — often many times the amount originally advanced — when the agreement terminates. Unison has over 10,000 agreements with homeowners nationwide, with properties cumulatively valued at $8.8 billion, and has reported annualized net returns of more than 20% for its institutional investors over a ten-year period.
The Kanes entered into a Unison agreement in October 2018 after receiving a direct mail flyer promoting the product as interest-free. They received an initial advance of approximately $87,956 in exchange for granting Unison a 70% interest in the future value of their home. Unison now estimates they now owe between $178,038 and $278,618 as of March 31, 2026. Their repayment obligation is multiples of what they were advanced, despite being repeatedly told the product carried no interest. The repayment estimates do not include additional costs, fees, or deferred maintenance charges that could drive the total even higher. As they approach retirement, the Kanes face the prospect of being forced to sell the home they have lived in for over two decades or remaining there until their nineties when the 30-year agreement expires, and a potentially massive payment comes due.
"Our clients worked hard for decades to build equity in their home, and they entered into this agreement in good faith, trusting Unison's promise of a simple, debt-free product," said Elizabeth Aniskevich, Senior Counsel at Singleton Schreiber. "What they got instead was a complex financial trap — one that now threatens their ability to retire and age in place with dignity. Thousands of homeowners across the country have become ensnared in Unison contracts based on the Company’s marketing and sales tactics that we believe are flatly deceptive, and Colorado homeowners deserve to have those practices exposed and stopped."
Unison’s agreements span nearly 100 pages, include multiple separate contracts, and contain dozens of defined terms, complex cross-referenced formulas, and inconsistent repayment calculations. The complaint alleges that Unison structures its agreements in this way to make it impossible for homeowners to understand their true repayment obligations until payment is actually due. Unison is further alleged to have mislabeled its product an "option contract" to avoid licensing, disclosure, and interest rate requirements applicable to mortgage and consumer loans under Colorado law.
Plaintiffs assert violations of the Colorado Consumer Protection Act, the Colorado Uniform Consumer Credit Code, and Colorado's Mortgage Lending and Reverse Mortgage Laws. The proposed class includes all Colorado residents who entered into a Unison HomeOwner or HomeBuyer Agreement since Unison began offering such products in the state. Publicly available land records reflect nearly 300 such agreements in Colorado's five largest counties alone, and Unison continues to enter into new agreements with Colorado residents.
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