Stop Foreclosure By Creating A Money Making Machine?

Is it really possible to stop foreclosure by creating a money making machine? Yes it is!  And everyone in foreclosure has a money making machine sitting right under their nose.

Dwayne was a single father of one but facing foreclosure.  He had a big house and he was living near a university.  He was falling behind on his payments but he had plenty of room.  It took a bit of adjusting and strategic planning but after just two days of preparation, his money machine was created.  Let me show you how he did it.

Well I know you’re wondering “how in the world am  I going to create a money machine to stop my foreclosure?”  I’m so glad you asked.  Now I must let you know that this strategy can work for most but it is not for everyone.  Simply put, the money machine is the very house you have that is in foreclosure.

You see, though you are behind on the payments, as long as you still have control over the house you can really restructure your use of it in a very creative way to help you solve your problem.  I suggest two ideas and I’ll tell you exactly how to do both.

• First I suggest rent the house out:
  • In most places while the real estate market is soft or slow the renter’s market is quite strong.
  • Renting the property will be a temporary strategy that will allow you to get funds to pay the mortgage or possibly catch up on your arrears.
  • If you must rent, keep in mind that you would have to move out of the house.  But knowing it is only an arrangement for a short time means you can find a place that is small and affordable.
  • I understand that you may harbor fears that by renting you run the risk of having the house damaged.  So you need to screen your potential tenants very carefully it is highly possible you will get good tenants – ask for references and follow up with phone calls until you get an answer.  Furthermore, there is little wear and tear damage that cannot be repaired
• Second I suggest that you convert your house to a rooming house.
  • Once again this is a short-term solution.  After you get caught up on your house payments and things improve on your job you will most likely be able to move back into your home.  This works very well especially if your house is near a university, college or a hospital.
  • There are many students who do not want to live in the dorm but would gladly rent a room in a house near the university.
  • Usually you can make this conversion quite easily.  You will need to do the following.
    • Put locks on all the bedroom doors.
    • Look at your living rooms and family rooms.  Sometimes, depending on the design you may be able to convert them to bedrooms simply by building a wall and installing a door.
    • Put a television in every room – inexpensive tube TV’s can be purchased.
  • Renting as a rooming house will usually generate far more money than is needed to pay your monthly housing expenses.
  • Sometimes you will even be able to keep a room in the house for yourself.  Thus you will not have to incur any additional expenses.  And you are on site to supervise.  You might even make some new friends.

I understand some of you may have serious reservations about doing this.  But I assure you it is a solution that works very well because of the amount of additional funds you can bring in monthly.  Dwayne and his son used this method and the extra cash allowed him to catch up on his mortgage and have some extra cash to even take a vacation.

I will write more on different aspects you must consider when seeking to stop your foreclosure by creating a Money Making Machine out of your house.  Feel free to ask me any questions or send comments about how you feel about this strategy.  Also make sure you download my free package while you’re here on this blog at Stop Foreclosure and Start Building Wealth

All the Best

The Foreclosure Doctor (Online)

P.S. The first and most powerful response to deed in lieu of foreclosure is creating a solid letter of hardship to your lender.