Open Question: Take Over Payments?

[Administrator]

We were asked to leave the house we were renting because the owner sold the house and the new owners wanted to move it as appose to renting it. My realtor knows of 4 families that are losing their homes. They can't sell and no one's refinancing them. They are all losing their homes. So she said since we desperately need a place to live and these folks are losing their homes eventually, we can take over their payments! Stay at the rate mortgage they're currently in for one whole year from the date we take over the payments and then deal with the bank later. It all seems too easy and clean. Is it? What are the pros and cons? Is it worth the risk(s)? We are currently dealing with NACA. Our 1-on-1 counselor session is next month. Should we just waited out, or jump on the opportunity with the foreclosures? Thank you.


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