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The Wonderful World of Real Estate
The Business of Solving Real Estate Problems
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Save Your Home from Foreclosure
Save Your Home from Foreclosure
After I wrote "Find an Investor for the Negative Cash Flow"
I received several responses asking if this can be used for their home that is now upside down.
The answer is Yes
Present Condition - Example, your payments went up considerably because the mortgage reset, your present situation prevents you from comfortably making those new mortgage payments, but you don't want to lose your home to foreclosure and you feel in a couple of years things will turn around.
Possible Resolution – You find an investor that is willing to be an equity partner; they have the ability to make those extra mortgage payments as an investment.
Resolution – The investor is willing to form a note for the extra payments, this note will be fully amortized for the time period you feel you need to get back on your own. You and the investor will negotiate your positions at the beginning of the partnership. You can create a note that will satisfy you and the investor. This note can be structured short term, one, two, three years and renewed if you both agree.
Remember the principle, the interest, length of time and payment can all be flexible to make everyone happy.
Equity Partner to fill the Void - The perfect person for this is someone who is now receiving a pension, social security, annuity, etc. and really doesn't need the money to live on and the only place they have to invest their money is the risky stock market or in the bank for a small return.
Benefits to You - You save your home from foreclosure
Benefits to Investor – The investor is now receiving a good rate of return on his investment money.
This is a Win - Win for everyone - You can use this principle with anything of value
real estate, car, boat, plane, etc.
CD's & Money Market is an alternative for an investor, which is not much of a choice.
The Wonderful World of Real Estate
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Wayne H. Wagie
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