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It was shortly before Christmas 2021 when Kennis Schummer received a letter that changed his life.
Schummer, a 64-year-old jingle writer turned retail manager, had seen the value of his modest ranch-style home near Pensacola, Florida, balloon during the pandemic. Like a lot of homeowners, Schummer was keen to convert some of his theoretical wealth into real cash. His home needed a new roof and floors, and friends sometimes joked that it was "stuck in the '70s," but tapping into the amassed equity seemed difficult. The traditional options all involved taking out additional loans, and Schummer couldn't afford more monthly payments.