Released on: April 28, 2008, 12:36 am

Press Release Author: Wayne C. Weeks

Industry: Marketing

Press Release Summary: Term Ownership is a Unique Home Financing Vehicle to aide
First Time Home Buyers and for those Home Owners facing Foreclosure

Press Release Body: Tucson, Ariz, April 28, 2008 -- Conceived and perfected by an
attorney, a recently patented financing method can provide relief to homeowners on
the brink of foreclosure without requiring government assistance. Stephen M. Weeks,
a founding partner of Weeks & Laird PLLC, developed the system called Term
Ownership, while representing homeowners harmed by predatory sub-prime loans. When
refinancing under the system, the owner pays 30% to 32% of a home\'s fair market
value (fully amortized over five years), while an investor or financial institution
pays 70% to 75% including closing costs. The owner continues to have the tax
advantages of ownership and can obtain equity if the home\'s price rebounds, the law
firm said. \"For the financial institution, instead of facing an average $60,000 per
foreclosure loss, it turns an unprofitable situation into a profitable one and gains
[Community Reinvestment Act] credit and public goodwill,\" says Weeks.

The beauty of the Term Ownership system is it makes housing affordable for first
time homeowners and can provide relief to distressed homeowners who are on the verge
of foreclosure (while simultaneously turning a losing transaction into a profitable
one for the bank). It is not rent-to-own. It is not a negative amortization
product.

The buyer is an actual property owner - but, for a fixed period of time.

Then the investor/bank owns the home if, and only if, the buyer doesn\'t buy out the
interest. The buyer typically pays 32% of the Fair Market Value (FMV), fully
amortized over 5 years, for 5 years\' ownership. The 5-year mortgage is, in effect,
equivalent to a car loan. The bank/investor pays 73%. This amount could be slightly
higher to cover all closing costs.

The buyer will have a secured mortgage on the property at 32% of FMV loan, so they
get the tax breaks for interest and property taxes. The 32% being amortized over 5
years is completely paid off at the end of the five year term - so the buyer can
walk away with no credit penalty.

If the buyer walks away, the bank/investor paid 75% (figuring high to factor in
closing costs) of today’s fair market value for a home that, 5 years from now,
should have appreciated in value. If it hasn\'t appreciated, in all likelihood it
will not have depreciated to the point where the bank/investor has lost money (but
as with all investments, there is risk - average appreciation, excluding this
strange period of the last few years, has been

Web Site: http://www.TermOwnership.com

Contact Details: Wayne C. Weeks
Term Ownership
Tucson, AZ
530-888-8877
866-534-8582
wcweeks@sbcglobal.net
http://www.TermOwnership.com