Rent to own, lease to own, lease to purchase. lease option
2007-01-09 17:13:34 · 6 answers · asked by Craig S 2 in Business & Finance ➔ Renting & Real Estate
I am real estate agent and I have a unique home buyers assistance program for people with bad credit. You can lease for (24) months & purchase a house. We don’t care about your current credit! Bad Credit, No Credit, and Foreclosures are OK. We help fix your Credit score while earning a buyers credit towards your home equal to up to 50% of the homes equity over 24 months.
You can contact me at 1.800.951.7453 x 570
or visit..
http://pike-realestate.com
for more details
2007-01-09 17:25:59 · answer #1 · answered by Holly 2 · 0⤊ 2⤋
all 4 terms you use above mean the same thing. have you called lenders yet? why don't you? many lenders have programs for homebuyers with bad credit (but i'd say that it will matter just how bad it is). if you rent to own, be sure that a credit check will be run on you too. are you a veteran of the armed forces that can get a veteran's certificate to buy a home no money down? call a lender: there are so many different loan programs, who knows what might fit? else, about renting with the option to buy:
do you know this? do you know that you will pay a base rent plus a little extra? the little extra should go into a protected escrow account that is set up so that it will be applied to your down payment at the time you exercise your option to buy the real estate. usually, if you do not opt to buy, the owner of the house can keep all of the monies in the escrow. now why is that?
pretend you want to sell your house. if you lease it with an option to buy and later (who has a crystal ball???), the market is not good, how can the seller sell then? the owner is at some risk giving you a lease with the option to buy, because he may be able to sell it for cash NOW. so, in order that both of you are at risk, it seems to be a fair break to each one of you.
I WISH YOU THE BEST OF LUCK!!!
2007-01-09 17:30:50 · answer #2 · answered by Louiegirl_Chicago 5 · 1⤊ 1⤋
2
2016-09-10 03:04:01 · answer #3 · answered by ? 3 · 0⤊ 0⤋
Do you have a down? If not the lease option will be easiest. OR Go into a market that is receding and offer to take over payments. You will be paying a little more than value but the tax break will make it worthwhile. Offer to open a bank account that automatically pays the mortgage in advance. After 3 or 5 years refi and put it in your name.
2007-01-09 17:20:25 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Go to one of the biggest real estate firms where you live. Ask a realtor this question- he/she will be more than happy to have you financial situation analyzed by a professional broker that they do business with. They will help you clean up your credit report and help you get on track so they can swing a deal so they can sell you a house and the realtor can make a good buck on the deal....trust me, it's the best advise and it's free until you buy and by the way, they would know of the lease to own properties in your area and will also advise you on that scenario too........happy house hunting.....I'm confident they will help and find you a home.........
2007-01-09 17:20:42 · answer #5 · answered by mac 6 · 1⤊ 1⤋
Get your credit rating back. Start with a clean slate, use credit cards judiciously, NEVER be late with a payment.
2007-01-09 17:25:26 · answer #6 · answered by coka-ko-lah 3 · 0⤊ 1⤋