Beware...

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Posted by HousesPlus.com on September 13, 2003 at 13:31:37:

In Reply to: Any companies that do sale/leaseback to save homes posted by Dave on August 20, 2003 at 09:15:38:

Here in MN there have been a lot of problems with structuring a transaction this way - it is better to sell the property outright. Just a word of caution if you enter into this kind of agreement with an investor; remember, their goal is to get the property, not help you out!

There are a couple BIG cases going there about this (see below). Just be cautious.

http://www.startribune.com/stories/468/4081727.html
http://www.ag.state.mn.us/consumer/PDF/HFC_COMPLAINT.pdf
http://www.ag.state.mn.us/consumer/housing/HomeEquityStripping/HomeEquityStripping.htm

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: Here in MN there have been a lot of problems with structuring a transaction this way - it is better to sell the property outright.  Just a word of caution if you enter into this kind of agreement with an investor; remember, their goal is to get the property, not help you out!





: There are a couple BIG cases going there about this (see below).  Just be cautious.





: http://www.startribune.com/stories/468/4081727.html


: http://www.ag.state.mn.us/consumer/PDF/HFC_COMPLAINT.pdf


: http://www.ag.state.mn.us/consumer/housing/HomeEquityStripping/HomeEquityStripping.htm








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