Unable to make mortgage payments?
I was recently laid off and cannot make my mortgage payments. My financial counselor has not been able to secure an equity loan or refinance due to my poor credit rating and the lender’s say that the house needs too much work. It has now been suggested to me that i let an investor buy the house. I would receive some money up front, the investor would make the monthly payments while making repairs to the house. When the house was ready to be sold I would receive additional money. Does anyone have first hand knowledge of this program and whether it is a good deal for someone like me?