Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: John McCarthy	11/30/2007 7:47:58 AM
	Read Replies (1) of 116555

It seemed providential when an acquaintance proposed a solution, claiming that it had worked for him: A network of investors would save her house from foreclosure by taking over ownership then renting it to her, promising that she could buy it back. Sure, the plan involved deeding the home to someone else, but Bridgewater was told that was just temporary so a person with good credit could get a mortgage at a favorable rate - which would help Bridgewater, too, because her rent would be half of the mortgage payments. The promised advantages were appealing: up to $100,000 from the sale, lower monthly housing costs, assistance in improving her credit score and the chance to make money referring other people for similar lease-back plans. She said the investors assured her she would be able to buy back the house after two years. Bridgewater signed documents last December believing that she was saving her house. But the promised benefits didn't happen, she said. "I signed away my house and got nothing," she said. sfgate.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next