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Looking at the current real estate market, it occurs to me that we'll probably soon be seeing some creative financing ideas.
It doesn't seem fair that some homeowners who are in over their heads should get a break when often they are in this pickle because they were greedy or dishonest or just plain dumb, while others who followed all the rules are left to bumble along helping to pay the tab - so here's one idea:
A homeowner who qualifies would exchange part of the future equity in their home for cash to bail them out and pay points to pay down the interest rate on their loan so they could stay in their house. In other words, they are not getting something for nothing at the government's (that means us) expense. There would be paper work involved - but probably no more than applying for a loan.
The real estate gurus have already come up with something similar to this called Equity Key - and some private investors who feel that real estate will rebound have shown interest in buying these real estate futures.
Any thoughts?:confused:
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