Stephen M. Weeks, of the Tucson law firm, Weeks & Laird PLLC, has come up with a solution for many people facing foreclosure--those facing an ARM adjustment that may send them into the realm of foreclosure.
After representing many homeowners in a bad situation, he came up with a plan that will help many get out of harmful predatory subprime loans. The goal is fourfold: avoid ARMs & negative amortization, allow for affordable house payments without a large amount down, keep tax breaks and allow an owner to gain equity, make it profitable for lenders to adopt this strategy.
The U.S. Patent Office awarded Weeks a patent for his plan on March 18. Having a prominent local come up with a solution to a problem facing so many nationwide is not only good, but good for tucson real estate. I look forward to seeing it in action soon!
To read about the plan in depth, please read the article in BusinessWire.
Kent Simpson
Specializing in Buyer Representation in the Tucson, Arizona real estate market.
"Never forget - Real Estate Is About People"
Kent,
You find the most useful stuff! And you're always first with the info. Thanks for a useful post!
Mike in Tucson
Chuck, I hope it works as good as it sounds!
Mike, welcome back from cattle country! Thanks for the kind words.