Financing solution with creative thinking

[David Lehane]

Hello,

I have an opportunity to try to help a family, but being reasonably new to the US I am looking for some solutions with regards to financing options if they exist.

The case in question is as follows,

A family of 4, earning about 100K+ per year, who have bad credit, live in a house that they owe what its worth of possibly even 5 to 10 k more than its worth.

They want to move out of the area, into an area closer to better schools, they have considered handing back their house to the bank, they have considered selling it as well, but they do not have the difference to put back into any shortfall between sale price and money owed.

They approached me to see if I could help them into a Rent to Buy, and I am not sure how I could wrap this or work this deal for them, while making it viable for me as well.

I would like to help if at all possible, as long as it makes good business sense, so I am asking for ideas and input from the BP community on what financing tools and options are there that I could look at with them?