MORTGAGE CRISIS:Someone Plz Help Me, Help Someone

I had my first contact from my “We Buy Houses-Any Condition” bandit sign. And ofcourse, it was a dud. But upon talking to the person, i wanted to give a solution for the Seller instead of the classic “sorry, cant help you”. The situation is that he owns a 3/1 near DT that was built in the 60′s in 2001 for $71,000. The current balance is $58,000-just at the 20% equity ceiling. The Seller is trying to get from under the financing terms of his ARM. It began at 4%, raised as high as 13% and currently 8.5%. The Seller informed me that the Lender is going to RAISE his rate again to about $1,200/mo from the $750 that he is paying now. Rent rates in his area is $600-750 so, Leasing the property would NOT be a possible solution. And finding an investor to buy his property is going to be hard because the present market value of the property is guess what? $52,828 so the best asking price would be $42,300. Is there any way you can have an attorney come against the ARM….
Source: www.realestateinvestor.com

[WTS] offering cheap, I want to sell a blogroll or a blogpost in PR4 general sports.