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PASADENAN, you say you gave three ideas. I only count that you posted two ideas:
1. Sign swirlers.
2. Listing your home on Ebay for $1.
Creative financing TOTALLY is how we got here. People didn't qualify under traditional programs, so other programs were invented. Many of these programs had a good purpose, say maybe the self-employed that like to be invisible on paper. Applying these standards to people with ever-declining credit score requirements and no income (as opposed to income that is difficult to document) for large loan amounts is exactly how we got here. Don't get me wrong...I'm all for personal responsibility (you commit fruad and fudge your income on a loan, you should pay the loan). The lax requirements didn't help and do give the lending industry some consequences (hence the huge pull back in lending?)
Nathan, I am not a lawyer - I am however a law student (see a lawyer for actual legal advice). My personal opinion is that your suggestion of a seller finance for a house that wouldn't appraise is a huge legal liability to suggest. (read: you very likely could have legal liability for advising this course of action in a transaction)
If something is icky, non-traditional and goes against common sense, it will probably get you in trouble somewhere down the line.
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