Posted by Kim K–AZ on December 03, 1999 at 11:24:15:
Please have your lawyer inform you of your state’s Usury Laws. If unfavorable litigation is brought against you by one of these people for whatever reason I believe the law would consider you to have taken unfair advantage of this person and their circumstances to your detriment.
May I pay your Mortgage…Please? - Posted by Robert Johnson
Posted by Robert Johnson on December 02, 1999 at 12:05:03:
A friend of mine didn’t have money to pay his mortgage on time and he made me an offer. He said if I would make sure his Mortgage payment was not late… which is $700…He would deed the house over to me for 90 days he would be my tenant and pay $770 rent for 3 months. If he didn’t pay me, the house would be mine, but the responsiblity of the $700 mortgage payments would be mine also. But his main concern is not the house but his credit.
I did it! It worked out. So I got a 30% yield off of a 90 investment. What my question is…can I start a Business doing this? People would be able to avoid forclosure.