Expert: Sue Bernstein - 5/8/2006

Question
have you heard about such a program and can you tell me how effective it is and am i protected against ruining my credit if i elect to sell my home this way?
i have a home located in rialto ca and am trying to sell it, it is not in foreclosure and i am not behind in payments. i'm asking $10,000 in pocket and someone else securing the loan. i thought about quit claiming it but i don't the see the protection in that method. can you call me if you can help-661-910-6420. i'm a truck driver and don't always get to check my e-mail regularly

Answer
Elliot,

I have had no experience with a shared equity purchase program.  My understanding was that it was a method to assist buyers in purchasing homes....not as a way to assist sellers.  I believe they are in partnership with the purchaser and the seller is bought out.  Why not just list your home with a local agent at fair market value?

Sue Bernstein