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Buy a Relatives Home on Short Sale and Rent Back to Them

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Forums » Consumers - Questions, Answers, Help » Foreclosures, Short Sales, etc. » Buy a Relatives Home on Short Sale and Rent Back to Them
 

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Latest post Tue, Nov 17 2009 2:51 PM by Nick Johnson. 2 replies. Viewed 259 times.
Page 1 of 1 (3 items)

  • Thu, Nov 5 2009 2:15 PM                

    • Anonymous

    Are there any regulations regarding buying the home of a relative on a short sale then renting it back to them to save forclosure.

  • Thu, Nov 5 2009 10:11 PM                 In reply to Rate this Post:

    |Contact

    A short sale is suppossed to be an "arm's length" transaction and most recently the banks have been making part of the short sale transaction the requirement of the potential purchaser to sign an affidavit stating they are in no way connected to the current owner of the property.  Some consider this to be fraudulant of behalf of the lender and before proceeding you should consult with an attorney.

  • Tue, Nov 17 2009 2:51 PM                 In reply to

    |Contact

    Great reply Jason!

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