According to RealtyTrac, foreclosures jumped 30 percent from last quarter. While this usually makes properties more affordable for buyers, today’s scarcity of credit makes home ownership difficult for those with limited assets.
According to David Nilssen, president and CEO of Guidant Financial Group (Bellevue, Wash.), this situation presents a golden opportunity for both buyers and sellers via an often overlooked strategy of the real estate market: the “lease option” (a.k.a. “lease to purchase option”). It also presents a unique possibility for homeowners facing foreclosure to remain in their homes.
Nilssen, who helms one of the country’s leading providers of self-directed IRAs and real estate IRAs, reports that many clients have discovered that lease options can help them avoid losses on moribund properties while generating income and lending a hand to potential home buyers as well as homeowners facing foreclosure.
To read more about lease options, click here.
Monday, November 05, 2007
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