Each participating mortgage company will decide on the terms and conditions of their individual RH Reward Program. Below is a very general example of how a typical RH Reward Program works.- The homeowner is awarded an initial RH Reward amount.
- The homeowner makes full and timely mortgage payments, keeping their RH Reward status active.
- For a period of time following registration, an additional amount of money will be added to the initial RH Reward amount for each month the homeowner maintains active status.
- Once the mortgage balance is paid in full – either by selling the home, refinancing, or by paying off the mortgage – the homeowner is paid the entire RH Reward.
- Going forward, if the homeowner becomes delinquent more than once in any 12 month period, they risk forfeiting their entire RH Reward.
