In the current troubled housing market and economy, house raffles have been the answer for many struggling homeowners across the country. Homeowners are forced to wait to get an adequate price for their houses to get it off their hands, a luxury that most can ill afford.
A house raffle is governed by law and must involve a non-profit organization. A successful house raffle can pay off a mortgage and get the property out of a homeowner’s hands while helping a local non-profit in the process.