"Payment Takeover"

Are you in foreclosure or headed that way?

Would you like to preserve or re-establish good credit?

Have you owned your home for a short time and don't have much equity built up?

With this option the buyer pays any mortgage payments that are in arrears, and takes over the monthly mortgage, insurance and tax payments. 

Note: After the sale you cannot continue to reside in the property.  You are transferring ownership of your property to the investor.

"Payment Takeover" financing may be an excellent option for you if:
  

you have only owned your home a short time and have no or little equity built up
-	because selling your house is probably going to provide very little cash
-	the first three years of mortgage payments usually only go toward interest and not principle
-	you must pay commissions if you sell through a realtor

  

you are headed to foreclosure
-	you keep foreclosure off your credit report
-	your credit will improve as this mortgage is now current and eventually will be paid off
-	the sale agreement gives you recourse if the investor fails to make the mortgage payment; however, this is unlikely because this is a business investment by a professional investor
-	Remember:  in time, bankruptcy may eventually be removed from your credit report but a foreclosure remains forever!