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."

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." -- TheBestHomesSanDiego.com