Altisource Portfolio Solutions has announced that homebuyers and real estate investors can now buy properties marketed on Equator.com and Hubzu.com by converting cryptocurrency into dollars with ForumPay, a leading cryptocurrency payment and conversion service, that makes it easier for buyers to choose cryptocurrency as a source of funds to purchase real estate.
Buyers who select Premium Title, an Altisource affiliate, as their title and escrow provider will be given an option to purchase property using cryptocurrency. If that option is selected, buyers will be directed to the third-party ForumPay site where their cryptocurrency will be converted at a fixed rate, and their funds will be wired directly to Premium Title or the closing attorney, where required.
Through its arrangement with Altisource, ForumPay is offering a process where cryptocurrency is converted at a fixed rate, and the funds are wired directly into a Premium Title escrow account, bypassing the need for buyers to hold the funds in their own bank account or place a wire themselves. Holders of cryptocurrency can buy any property on or off the MLS, Equator.com, or Hubzu.com by selecting Premium Title as their title and escrow company, and sending their Bitcoin, Litecoin, Dash, Ethereum, or Bitcoin Cash to a ForumPay wallet for conversion.
“We are thrilled to announce our arrangement with ForumPay,” said Michael Jansta, SVP of Marketing, Altisource Marketplaces. “This is a game-changing functionality at the cutting-edge of crypto adoption. When the value of cryptocurrencies surge to the upside, there are many investors who look to diversify some of those gains into other asset classes. We are very excited that Equator.com and Hubzu.com are the first marketplaces where homebuyers and real estate investors of all types can use their converted crypto to buy homes and investment properties.”
Altisource has an affiliated business relationship with ForumPay and Premium Title Services (PTS). Altisource does not own or control ForumPay.