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Investor to help 11 yr. tenants acquire the mortgage they've been paying on
My husband Joe and I have rented the same house for 11 years, never missed a payment, even helped the owner save his home from foreclosure. He is now selling it, and we have to buy or vacate. We don't have the means to buy, we've been working on our debt to improve our scores but not enough to qualify to buy without a co-signer. Joe has worked for Fedex for over 20 years and his yearly income is $100,000. If we can find an investor to help us obtain the property, we have no problems in paying the mortgage just as we've been paying the owner of the property's mortgage for 11 years. We've also done all the maintenance and repairs all these years, we put new linoleum in the kitchen, painted the interior, built a new fence/gate, stained all cabinets, much more all without reimbursement as the owner is a tightwad and had never wanted to pay for upgrades. We have taken care of his house like it's our own and never complained of anything. We are stable long-term tenants and would prove to be a good investment choice. We just need help getting in, the payments are covered! TIME IS OF THE ESSENCE! We have less than 60 days to move on this. Thank you!
Quote from @Deborah Ann Caporale:
Contact the landlord and see if he'll consider seller-financing. You give him a downpayment and make monthly payments to him. This gives him a chunk of money upfront to do with as he sees fit, ensures he gets steady income (with interest), and reduces his tax burden.