If you don't know her and are unfamiliar with her work, you should go to her website and get acquainted. If you saw her photograph, you might recognize her from Inman News or a host of other real estate related websites. She also has her own radio show, which is pretty cool. I think her newsletters are fabulous and I'm reading an article that I would like to share with you.
The article is entitled, "Mortgage Lender: Should You Become One?" (You can read the entire article here.)
What I found fascinating about the situation is that a homeowner is trying to sell an inherited house to someone specific who was really terrific helping out a family member, but has less than perfect credit. The owner is willing to hold the mortgage, but the issue, or question, is whether it may be better to rent it to the person first, the speculation being that giving them time to improve their bad credit before allowing them to purchase is a viable option. What do you think? I've been trying to make up my own mind, but I keep getting new ideas both for and against waiting. I'd like to hear your perspective on the matter because it's a very interesting situation and I guess my views center more on whether I, if placed in that situation, really needed the money or not. Hmm...
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