In Tight Credit Market, Old Insurance Policies May be Key to Buying New Home

Consumers Turn to Creative Financing Methods to Obtain Their Dream Home

Even as the housing slump sees home owners defaulting in record numbers and mortgage lenders writing off billions of dollars of bad loans, others are seeking the silver lining. Home prices are falling, and many consumers are betting that now may be the time to buy. These would-be home owners are finding, however, that buying their dream home might not be as easy as it was before the housing bust.

Real estate agents, Robert Hamzey & Michelle DiCarlo of Villa Sotheby's International Realty in Del Mar, CA offer a novel solution to home buyers looking for alternative financing. 'Many people have a great asset in their life insurance policies and don't even realize it,' Hamzey says. 'In many cases, a policy holder can sell a life insurance policy and get the cash they need for a big down payment.'

These transactions are called life settlements. Older adults are able to sell their life insurance policies for significant financial compensation. 'With the mortgage industry so tight, many people are not able to get the financing they need to take advantage of the great home deals that are now available,' notes Hamzey. 'Life settlements can help make hefty mortgages affordable and get people into the home of their dreams.' http://www.lifesettlementsca.com/

Consumers can also gift life insurance policies to family members and loved ones. This little-known ability allows policy holders to offer financial support to a designated individual or individuals. This gift can go a long way in helping family members afford new homes or simply stay in a home with a burdensome monthly mortgage.

'Times are getting tough for a lot of people,' says Hamzey. 'A life settlement can help not only with affording a new home, but also affording the old bills.'

To learn more about San Diego real estate, visit http://www.thebesthomessandiego.com/ Contact Robert Hamzey at 760-685-7466 or Michelle DiCarlo at 760-519-8882

The dynamic team of Robert Hamzey and Michelle DiCarlo of Villa Sotheby's International Reality in Del Mar, CA are experts in the San Diego real estate market. Their knowledge and dedication results in happy home buyers and sellers. Robert and Michelle work hard to assist buyers in finding the home of their dreams.

Source: TheBestHomesSanDiego.com

CONTACT: Robert Hamzey, +1-760-685-7466, or Michelle DiCarlo,
+1-760-519-8882, both for TheBestHomesSanDiego.com

Web site: http://www.thebesthomessandiego.com/
http://www.lifesettlementsca.com/