Z-Bube, could you do a lease option with him where he pays you what you pay as a payment (or maybe even a little more) and he pays insurance and stuff, for a 3 year span (3 years is enough to get his credit fixed) and a certain amount of the payment goes towards the principle and at the end of the 3 years he gets his own home loan for the remaining principle? It would take the weight of the payment off your hands. Many banks will at that point process the loan app as a refi instead of as a new home loan.
Email & MSN Messenger: Becca_1975@msn.com
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