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Does anybody have any experience with "foreclosure rescue" Pre foreclosure real estate investment deals (ie. sale/buyback deals)? The weblogrnrnThe Home Equity Theft Reporter atrnrnhttp://homeequitythe
ft.blogspot.comrnrnrnrnhas
links to stories from around the country about financially strapped homeowners apparenly being victimized by these "foreclosure rescue" deals being made by foreclosure investors.rnrnAs I understand it, the homeowner transfers his/her ownership to the foreclosure investor in exchange for the the foreclosure investor making up the back payments on the mortgage that is in default.rnrnrnThe homeowner then rents back the home from the investor with a right to buy it back within a short period of time. Apparently, the homeowner often times isn't able to buy back the home, and the investor ends up with all of the now former homeowner's equity.rnrnIs this OK ?rnrn
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