In my experience these arrangements usually have a slightly higher down payment and interest rate than conventional financed deals, but rate and terms can be whatever both parties agree to.

@Joe Norman Can you tell me more about your arrangement (fee, timing, etc.) with your contractor (s)?

While they do charge a small fee based on the amount collected, they have proven to be effective in arranging payment plans and facilitating settlements.Unfortunately, unpaid rent often remains unresolved for extended periods, but we've found that many tenants eventually realize the need or desire to repair their credit in order to purchase a home or secure a new rental property.

Either method can be done safely for both parties if done properly, but after having done or been involved with over a thosuand of these arrangements, I have yet to see one that started out properly.

@Jason Merchey let’s arrange one in DMs!

Nice, maybe we can arrange a meetup when you come to LA.

They are a young couple with no credit history but their parents will co-sign.1) would you go along with that arrangement?

Have her sign this as an agreement detailing the move out arrangement. 2- total win to get rid of “Smokey”.

We also assume that the arrangement that you describe involves the issuance of a promissory note (or other evidence of indebtedness) secured by a deed of trust.The first thing to consider is whether the promissory note is a security.

If you have a situation where it makes sense to partner, make it a limited time arrangement with a designated exit point and pre-defined exit terms.