Melissa Huelsman, Vila Pace-Knapp’s attorney, has a different take on Jack Burns’ scenario, in which a real estate investor may help a person in danger of foreclosure. Burns and Pace-Knapp were featured in the recent story about foreclosure rescue. Burns says in the original story that if a homeowner is in danger of foreclosure, he could do the person a favor by taking their home off their hands but leaving the homeowner debt free with no foreclosure on his or her record. Huelsman says a more beneficial situation for the homeowner would be if he or she convinced the bank to provide some time in which to sell the house. Despite foreclosure proceedings, Huelsman writes that such a scenario is plausible if the right people get involved. In that case, the homeowner would get to live in the house while it’s being marketed at no cost. The house gets sold for full price or close to it, the lender is paid in full, the homeowner saves money for future rent with no completed foreclosure on his or her credit record.
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