Thoughts on business, entrepreneurship, and life from a Silicon Valley entrepreneur and writer.
Let me explain some of the techniques these investors orforeclosure hunters use. It depends on how much equity you have. If you have 20% or more equity in your home, usually this is the technique they use. First, they say you can stay in the house. This seems to be a real selling point for people trying tostop foreclosure. Second, they say they will pay your back payments and bring you current on your mortgage. All you have to do is sign all these papers…..one of them being a Quit Claim Deed giving ownership interest of your home to the investor. Another is a rental agreement making you their tenant.
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