Stephen M. Weeks, of the Tucson law firm, Weeks & Laird PLLC, has come up with a solution for many people facing foreclosure--those facing an ARM adjustment that may send them into the realm of foreclosure.

After representing many homeowners in a bad situation, he came up with a plan that will help many get out of harmful predatory subprime loans.  The goal is fourfold:  avoid ARMs & negative amortization, allow for affordable house payments without a large amount down, keep tax breaks and allow an owner to gain equity, make it profitable for lenders to adopt this strategy.

The U.S. Patent Office awarded Weeks a patent for his plan on March 18.  Having a prominent local come up with a solution to a problem facing so many nationwide is not only good, but good for tucson real estate.  I look forward to seeing it in action soon!

To read about the plan in depth, please read the article in BusinessWire.