FHA “Back to Work” Program – 5 Key Points. Learn Them All, Especially #4.

The Federal Housing Administration (FHA) announced the Back to Work Program on August 15, 2013. This program is great news for you if your damaged credit history is a result of the recession.These are the 5 things you need to know about the "Back to Work" Program.Let's dive right in... 1. You No Longer Have a 2-3 Year Waiting Period for an FHA Mortgage If you experienced an "economic event" like a:Pre-foreclosure Sale Short Sale Deed-in-Lieu Loan … [Read more...]

Actual Calls To Sellers – Free Lesson

 You can watch the live recorded calls here (it's only 5 minutes and teaches some cool stuff that will help you.)Look - you can totally model this type of phone conversation.It's a great way to find out if a home is worth more of your time, while being super comfortable making calls from your home.The reason I chose to give you this lesson (besides the awesome quality :-)) is because it shows you simple questions to ask a seller to position yourself in a way that … [Read more...]

The Pros And Cons Of Borrowing From A Bank To Pay For A Rent To Own Home

There are so many unique and creative financing options for those who really want to buy a home. Even if you have bad credit, there are options out there available to you.If you are looking at the rent to own financing option to purchase a home for sale, then this article will offer you several benefits. This article will cover the topic of borrowing directly from banks in order to obtain a mortgage loan required to make the final purchase on the home once the rent to own financing contract … [Read more...]

Preparing For A Rent To Own Contract

If you decide to use the rent to own financing option to purchase your home, it is important that you prepare yourself for the reality of the situation. Knowing exactly what you are getting yourself into is key, particularly when legal contracts are signed and you become liable for certain financial aspects of the contract.This article will run you through the basics of determining whether or not you are qualified for a future loan before you enter into a rent to own contract.Since the … [Read more...]

What Closing Costs Can I Expect In A Lease Option Contract?

One of the interesting things about the rent to own financing option is that it is often home owner financed. Meaning, in many cases the bank plays no role other than administrator in the entire financing of the home. While this article will outline some of the basic closing costs associated with the typical rent to own contract, it is important to be aware that the home seller can create closing costs of their own.Budgeting for closing costs is incredibly important because closing costs can … [Read more...]

How To Make A Decision On Your Down Payment In A Rent To Own Situation

For rent to own homes for sale, there are many unique challenges and opportunities in financing the actual purchase of the home. One of those unique opportunities is the ability to include a down payment in a monthly rent credit fee paid over a long period of time. In other words, you can actually stretch out the down payment over the length of the contract in part or in full.The major reason that people borrow money, whether it is for a car or for rent to own homes, is simply because they … [Read more...]

Do I Need A Mortgage Broker For A Rent To Own Contract?

If you are considering the rent to own homes financing option, you may be confused as to how this process differs from a traditional mortgage. While it can seem confusing at first, this article will teach you more about mortgage brokers and the role they play in rent to own contracts.If you are like many considering rent to own homes, you may be in a position in your life where you need the extra time to either save the money, repair your credit or you just want to test out the home before … [Read more...]