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You see a real estate advert. with the banners: "Take Over Payments" , "Properties Are In Jeopardy Of Foreclosure". Then, "seeking new tenants to take over payments with no credit check or no down payment required". What should I be aware of? What are the pitfalls? What questions should I ask? |
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As you realize, almost no mortgage lender allows you to simply "take over payments" and certainly not with "no credit check". You're right to suspect something is fishy. I can't think of any legitimate plan that would be involved.
So what question should you ask? It's "May I have the proposal in writing?"
and then your next step is to take it to your own lawyer. I can't tell just what this is about but you should certainly get professional advice before you sign anything or give anyone any money. |
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Edith
Originally published on July 7, 2008 |
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