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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (166947)	11/25/2008 5:53:45 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

"The home", not "their home." Keep them as renters, as they were, with modified payments and terms. This would have to work much like a car lease. Obligate to maintain as part of a minimum 5 year lease or face some sort of legal consequences. Maybe require escrow payment. If they were so set on having and keeping a roof over their head, there should be no dissension. Investor or investors share the risk and reward of longer term gain as well as collect management fees. Tenant can become an owner in whole or part down the road if they choose and are able. Maybe tack a balloon/buyout payment if they want to return to full fledged mortgagors at end of lease. Five years can work out some of the price disparity, but ten years can do more. This may not work in all markets, but it can at least make a dent in the oversupply and foreclosure problem without weighing down neighboring home values. All options need to be explored.