Posted by MO on August 14, 2003 at 12:12:23:
Thanks for your thoughts, Ron. I am definitely on the same page as you in terms of this not being the strategy to use when someone is in foreclosure or for someone who wants to stay in their home. Really just for those who already want to move but don’t have the money to do the repairs that would get them the most at selling.
The lack of control was also something that had been nagging at me, but I am thinking that the strategy is similar to Joe Kaiser’s deal with where they deed him 50% when he brings them current, so maybe some of his assurances could be modified for the situations that I am thinking of.
Enjoy your day.