The problem was our addition of a pop-up window on our City pages like rent to own homes in Tampa

On this pop-up window we provided visitors with a form to fill out if they wanted to join our rent to own homes program. We have received several hundred email requests about offering a program for rent to own buyers. Unfortunately using the pop-up had the opposite effect for us, this was removed yesterday and we hope to be high up in the rankings again over the next several days or weeks.

As for the rent to own program, we will be providing visitors with a form to fill-out in the future that does not use a pop-up.

Landlord exploitation of tenant

Many people who sign rent to own agreements end up evicted and lose all the money they put into the home. A rent-to-own home may seem like a good choice if you want to buy a home right now but need a little time to save for a down-payment or build up your credit rating. Some landlords sell the same home over and over again. Tenants sign a rent-to-own agreement, move in, and fix up the home. After six months or so, the landlord finds a reason to evict the tenants and keeps all of their money and their improvements. Then the landlord gets someone new to sign a rent to own agreement.

Lawyer assistance to Read the rent-to-own agreement

Read the rent-to-own agreement and get the assistance of a lawyer to read it. The rent-to-own agreement is both a lease and a purchase offer in one set of papers. It is sometimes called a lease/purchase or a lease with an option. Usually the rent to own agreement will also say that:

1. In order to get a rent credit, tenant has to pay his rent on or before the due date of his lease, usually the 1st of the month. Any payment made after the due date will give tenant 0% rent credit toward his home purchase for that month, a late fee may apply, and tenant will not be building any equity in the house. That means none of his rent money will go towards buying the house.
2. Maintenance of the home is your responsibility as the tenant-buyer. This includes things like broken windows from stones or baseballs, clogged drains, peeling paint, broken appliances, burnt out bulbs, lawn work or snow removal. Any major repair that the house needs to be in livable condition is the owner’s responsibility. Many landlords will try to force tenant to pay for these major repairs as well.
3. Tenant must often pay a deposit that the landlord calls an Option Consideration. Option Consideration can be 2.5% to 7% of the sale price of the home. It is usually a non-refundable payment, of which 100% is supposed to be put toward the sale price of the house. It is not a security deposit. If tenant does not buy the rent to own home at the end of the lease term, or if he is evicted before he can buy the home, tenant will lose all of the money that he paid for the option.

Tenants ended up evicted

On October 2, 2005, a reporter for tribune wrote an article about a large lease-to-own program that had caused lots of complaints. Over a 5-year period hundreds of deals were made under this program but very few houses were bought. In fact, there were more evictions than houses bought. The contract used in this program made it easy for the seller to evict the tenant and make another deal with new hopeful buyer.

This scam is probably one of the most common types of real estate Scams. In this type of fraud two different sets of settlement statements are prepared. One statement is given to the seller in which the accurate selling price of the property is reflected. The other statement that shows an overstated selling price is given to the mortgage lender. When the lender provides the loan in the larger amount, the excess is divided between the swindlers.

Foreclosure Scam:

People who are having problems paying their mortgage of their home are approached by someone who represents themselves as a mortgage consultant or a foreclosure service. The cheater offers to help these distressed homeowners and acquires the title or deed from the home owner.

Home equity Scam:

Some corrupt financial institutes may encourage the owner of a home to leverage himself beyond his means. It is known as home equity liquidation or collateral stripping: taking cash out of the equity in a home.

House Improvement Scam:

A person, or group, comes to your door and tells you that they’re working in the area today or offers to arrange a home-improvement loan to do work for you. Good and sound contractors don’t need to go door-to-door looking for business. These swindlers typically target the elderly with this scheme, and their work is typically sub-par at best. At times, they will leave before the job is actually done.

Loan servicing Scam:

Lack of complete documentation and terms provided by some lenders to their customers is becoming a growing problem for consumers. Lenders through a deceptive way of selling, advertise a rate to the buyers when they apply for the loan who are then pressured to switch to a more expensive rate to close the transaction. The buyer, who fears losing the loan, agrees to the new terms.

Mortgage Scam:

A distressing trend that is spreading sharply is the association of different real estate industry professionals like mortgage lenders, brokers, appraisers, and real estate agents who are carrying out the fraud. The most common scam is home appraisers who over inflate the value of homes to secure larger loans. Mortgage scams are rapidly increasing in the U.S due to rising prices of real estate and homes for rent.

Tax Avoidance Scam:

In this case when both parties; the seller and the buyer agree on a transaction, the seller of a property may wish to avoid tax or seemingly help buyers avoid tax by accepting deposits in hard cash. The buyer supplies his deposit of $500 which turns out to be fraud. The swindler moves around the common practice of declaring to the authorities’ only part of the sale price and paying the rest in cash. The extra payment is known as black money and it’s paid in a notary’s office when the sale documents are signed when the officials are gone.

Sign up on Your Contract:

To get any credit for rental homes, you must get it on the contract. If it’s not on the contracr, it’s unlikely you’ll get any credit.

Pay your Bills on Time:

Always pay your bills on time. Late payments and collections can have a major impact on your credit Score.

Never be late or miss your payments:

For better credit score, it is essential that the less time your payments are late and the longer that you pay your bills on time. Even if you’re struggling, don’t default or miss payments. Doing this once or twice could cause problems that can cost you for years If it is hard for you to pay your bills on time, consider signing up for an automated bill payment service.

Repair past problems:

Credit scoring helps to predict your behavior. If you’ve poor credit history it’s more difficult for lenders to lend you, you need to repair you credit score. One of the best ways to improve you credit score is by getting the right sort of credit card. By getting any kind of credit, and operating it perfectly, you can either build up a credit history from scratch, or improve your deficiencies.

Don’t let a third-party effect you credit score:

If you are ‘financially linked’ to someone on any product, it can have an impact. Even a joint bills account for apartment sharers can mean you are co-scored. If one colleague has a poor history, keep your finances rigidly separate, and it should maintain access to good credit for the other.

Do your rate shopping in a short term:

You can avoid lowering your credit Score by doing your rate shopping within a short period of time, such as 45 days.

Avoid The Rejection Spiral:

If you apply to get loan for rental house and you get rejected and this continues, immediately check the files are correct, otherwise you may mess up your score for an age as more applications mean more investigations, which complex the problem. When you get rejection first time, it can spoil your chances of getting further credit for rent to own because a search has been registered. It is better to check your file and call lenders you plan to apply to in advance to check.

Deal with defaults in your credit score:

Debt defaults can easily hamper applications to get new credit and if they’re genuine and fair are tough to deal with. Firstly check with the other agencies that the default is there too, and then try the following strategies, especially in case of unfair default.

• Complain to the financial institution if default is not fair.
• Negotiate with the lender in case of disputed defaults.
• Add a ‘Notice of Correction’ if the default’s justifiably unfair.

• Buyer pays an upfront option fee, which is non-refundable. The buyer buys the ‘Right’ but not the ‘obligation’ to purchase the property in future.
• Option fee is credited toward the purchase price if buyer chooses to buy.
• There is a deadline date upon which the rent to own buyer has the option to purchase the home for the original contracted price listed in the rent to own contract.

• Five important components of rent to own transaction are, the rent, rent credit, purchase price, option length, and option fee.

• The amount of option fee is negotiable.
• Mostly rent to own option ranges 2-4 years.

Benefits of ‘rent to own’ transaction are following:

• Rent to own transaction is attractive to those who may not be able to qualify for a mortgage.
• Rent to own works for those who want the flexibility of having the right to purchase the property but also want to move to a different location at the end of their rental term.
• Seller finances the buyer with credit problems.
• Buyer has time to improve low credit rating before purchase, using a mortgage loan that the buyer acquires himself.
• Purchasing power of buyer increases in this way of transaction.
• Faster equity growth compared to renting.
• Rent to own offers sufficient time to check out all the features and faults of the property.
• Skip paying many costs than in purchasing using conventional mortgages.
• No tax or property expenses to pay.

Owner Financing:

The deed is transfers to the buyer, and the buyer makes the directly payments to seller without a lending institution. Instead of Rent to Own, Owner financing is a definite purchase agreement. The salient features of owner financing are:

• Based on a land contract or a Deed of trust.
• The seller of property acts as a lending institution.
• Owner financing is in advance sale of the property whereby the seller holds a promising note from the buyer secured by the property as collateral.
• The option fee, price and terms of the sale are negotiated in the Option Agreement.
• If the buyer does not pay the rent as agreed in the Agreement, the Option Agreement is null and void, and the option fee is surrendered by the buyer.

Owner financing offers various advantages like below:

• Owner financing works very well for buyers needing to improve their credit.
• The on-time rental payments will help to build the buyer’s credit rating.
• Title of property immediately transfers to buyer.
• In case of increase in price of the property, the seller cannot sell the property out from taking it back from buyer.

A rent to own home is all of the above.

The idea behind rent to own is that you can purchase the house you are renting, using a portion of your rental payments to help cover your closing costs. Unfortunately, it’s often setup wrong, making it very difficult for the tenant to actually purchase the house.

But, when you know which rent to own homes to search for, you could be well on your way to kissing lease payments goodbye.

To get you started on the right track with rent to own

I’ve come up with 21 simple pointers you can start using right away. Some will be useful for saving money, some for speeding up the time it takes you to purchase.

1. The upfront fees are completely negotiable. You’d be surprised at how many tenants willingly fork out $10,000 in upfront option fees, just to lose it after their buying period expires.
2. Try to request that your normal lease deposit be used as your upfront “option fee”.
3. Speak with a bank like LendingTree BEFORE signing your contracts for a rent to own.Make sure to ask how much home you can afford.
   If you have poor credit, create a workable timeline together to estimate how long you will need to reach the minimum credit rating.
4. Confirm that any “rent credits” discussed upfront are actually listed in your rent to own contracts.
5. Order an appraisal. It may turn out that the home appraises for MANY thousands below the seller’s asking price. A rent to own home way overpriced is very likely to fail.You could also have a Realtor run an analysis on the property’s value.
6. Use rent to own contracts designed for this type of transaction.
7. Avoid paying a rental amount higher than retail.
8. Check your credit sooner rather than later. There may be some errors on your report that can quickly be removed. View your credit report for free here.
9. If you have poor credit, work with a quality credit improvement company as quickly as possible. You can read our review on Skyblue Repair here.
10. Have the homeowner provide you with proof that the mortgage is up-to-date.
11. Use a buyer’s agent to represent you and to review all documents.
12. Search rental listings. Just ask for the option to rent to own. You could even come prepared with rent to own contracts.
13. Don’t forget that you might be required to bring cash to closing when you purchase.An experienced buyer’s agent can provide you with a close estimate based on the rent to own paperwork.
14. Review everything. Paperwork, home, tax records, appraisal, out-of-pocket costs, credit rating.
15. Never email your credit report to online sellers.
16. Walk away from Craigslist rent to own homes with a seller who had to “move out of the Country”. Almost all of these are scam listings.
17. If you’re not positive that you want to own the house, avoid it altogether. You are probably wasting your time and the seller’s.
18. Enjoy more detailed rent to own info free. Start receiving our newsletter here: Subscribe to rent to own homes by Email.
19. Qualifying to move in to a rent to own home doesn’t mean you qualify for bank financing automatically. It’s your responsibility to qualify for a mortgage and to purchase the home before the “option period” expires. If you fail to secure a mortgage and the option period expires the owner is no longer obligated to sell you the property.This is exactly why you should avoid putting down HUGE option fees upfront. Because the option fee is non-refundable. Unless stated otherwise in the rent to own contracts.
20. Found a great deal with a rent to own company? Ask what percentage of their rent to own homes are purchased.Request to speak with some previous satisfied customers.
21. This is not owner financing. With owner financing you are actually purchasing the home and making mortgage payments.A rent to own is similar to a traditional lease. With the added “option agreement” allowing you to purchase the home during a given time frame, for a specific price.

Apparently we were receiving so much traffic that our hosting account was unable to handle the requests( I don’t get exactly how it works either). The site was stuck in a cycle of running slower and slower for about 30 minutes until we would totally shutdown for about 20 minutes while rebooting itself.

Anyway, we are back now and now using a hosting account 10X bigger than before. Hopefully this will help along with some other things we are currently doing to make the site run MUCH faster then it currently does.

If I remember correctly, I posted that our goal for traffic by the end of the year was 5,00 visitors per day. That was back about two months ago when our traffic was at an all time high of 800 visitors per day.

We recently hit the 5,000 visitor mark in a day and we are averaging about 18,000 pageviews per day and growing!

Soon after adding many articles on how-to benefit from lease to own to buy properties, site guests began following from all around the United states, especially in Yuba City/California. This is what motivated Cole to perform an in-depth analysis for the current information available online for lease to own listings along with available tips designed for employing a lease to own.

What he commonly found was interesting!

Nearly all lease to own internet websites out there via search engines like google are charging customers to look at properties!! In addition to that, a lot of these websites are supplying Foreclosure listings in the form of “rent to own properties.”

After you spend some time using our very own How does a rent to own work page and the Free step-by-step guide(When you are serious about using a rent to own) you will learn it is Almost impossible to rent to own a foreclosed home in the present Housing market.

Cole also found that the only material available on the web pertaining to “how rent to own works” is created to teach Real-estate Experts how to sell/market homes using a rent to own.

Almost nothing is offered to explain to consumers in Yuba City, California about what offerings to look for and the deals to back off from!

So that’s what we’ve delivered to you Yuba City, California!

So What Can Yuba City, California Expect to see Here?

At RentUntilYouOwn.Com expect that postings in Yuba City, CA are forever accessible to you for free.

Straight-Forward Information

Resources to help you Succeed

A Directory of rent to own homes in California

The truth is, Cole has eliminated all of his personal property listings from the web site. Doing this you will not ever think that we’re trying to convince you that a lease to own is definitely in your greatest interest to use. Because it isn’t!

So expect an unbiased and useful internet site which is geared toward supplying individuals interested in utilizing a rent to own in Yuba City/California a complete resource web site for ALL their lease to own needs.

The FREE Step-by-Step Guide for buying a lease to own home was put together by Cole Haynes. He explored the web over several weeks and found the very best sources to help you succeed with your lease to own within Yuba City, California. You’re able to click here to check out the: FREE Rent to Own Guide.

Thanks for visiting!!

Our blog claim id is: P7E2ZEW4X4HJ

Well we have been working on this rent to own homes website for about six months now, around November 1, 2010.

This post is to update you on our progress over the last 6 months! Actually, only during the last 2-3 months have we realized big increases in our traffic and rankings in the SERP’s. Below is a screen shot of our Google analytics account that helps track the amount of rent to own traffic to our website each day and our progress as we continue building the site.

As you can see, in the last 2 months our traffic has really exploded! Currently we have about 800 visitors per day to the website. This is great progress, but our goal is to be at 5,000 per day by the end of 2011.

We will keep you updated on progress for the rest of the year!