Saved by a Housing Angel
Calgary herald ust call us angels. A new program launched by Arizona-based, Canadian-owned RealCore Realty called Housing Angels offers Canadians a chance to take advantage of parity dollars and low real estate costs to come to the rescue of Arizona homeowners facing foreclosure.
“Canadians are helping solve the mortgage crisis here,” says broker and RealCore owner David Dziedzic.
“Canadians have been buying properties to help people facing hardship to stay in their homes.”
So far, more than 100 investors have signed up for the program, which Dziedzic hopes to franchise nationally.
“We have one homeowner who owed $300,000 on their house, and an investor came in and bought it for $151,000, and now the payments which used to be $3,000 are now $1,580 per month,” he explains. The idea is for the occupant to buy back the property from the investor over a period of up to three years.
“The (investors) have a chance over three years to get a minimum 10 per cent return on investment,” says Dziedzic.
Dziedzic says issues such as home maintenance remain the responsibility of the occupant, as it was previously, and the homes are, obviously, not sitting vacant.
“It’s a win-win deal,” he says. “Families get to stay in their house, and even the banks like it because they don’t have to hire an asset manager. And you don’t have to worry about people breaking into the house because it’s vacant.”
Dziedzic says RealCore can help investors through the process.
For more information about the program, visit housingangels.com. For more information about other real estate opportunities in Arizona, visit realcorerealty.ca.
Housing Angels helps homeowners facing foreclosure to stay in their homes.