Creative ways to help young adults purchase their first home

A recent article from Los Angeles Times "Finding ways to help young adults make their first home purchases" reveals some creative trends for the younger generation to buy their first homes.  Many stories are echoing some of the buyers' experience.

http://www.latimes.com/business/realestate/la-fi-harney-20140216,0,7652846.story#ixzz2thIIJl3U 

With Stricter mortgage underwriting standards, higher unemployment, and heavy student debt, it's making it hard for the age 20 - 30 potential buyers to buy a home.  But they may be able to get help from family, friends or relatives with more creative techniques for their financing:

•  27 percent of first-time buyers in 2013 received gift money from relatives to help defray the down payment and closing costs.

• With professional help, some family or relatives provided either second mortgages or first mortgages, and when properly structured, these loans provide higher returns (than bank deposits) to family or relatives.

Please check into the article as it also provides some interesting statistics.  Please seek licensed professionals' help when trying these.