Posted by ScottE on May 28, 2000 at 11:31:00:
Your plan looks fine. Obviously this lady cannot afford the payment on a $140K house, but may well be able to afford the payment on a $85K house.
What would she do if you weren’t offering to put her in a house? She would get foreclosed, get booted out and be apartment-dwelling for a few years until she could qualify for a house.
The way I see it, you are helping her credit AND living situation in one deal.