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Today, over 25% of the homes in America have loan balances that exceed the home value. If you’re one of them it’s not your fault and you do have choices which are laid out here.
You didn’t create the deepest recession in our lifetime and cause residential real estate values to drop 30%-60% across the country. You bought a home, the American dream. You worked hard to pay the mortgage and maintain the home and woke up one day underwater ... and it all seemed to happen so fast!
Millions of good people are walking away from their mortgage and letting the banks foreclose. This adds to the over supply of bank owned houses and continues to lower values as they are sold off at distressed prices.
Walking away is certainly one of your options, but not the only one, and may be your least favorite choice. However, until all your choices are on the table it’s hard to decide which is best, so here they are:
We Are Dedicated
To Finding You
A New Home!
We are not realtors who are selling someone else's homes, nor are we bankers or loan brokers who get paid to find you a loan. We're actually the owner of several lovely homes which are available for purchase. Since we own the homes,many times (depending on your circumstances) we are willing to finance all or part of the purchase ourselves. All the normal rules concerning credit, debt ratio, proof of income and yes, even down payments are thrown out the window. Since we own the homes, we can be very creative with the financing and structure it to fit your needs.
So, here's what it comes down to. If you're truly interested in buying a home of your own, I'll give you several options after this message. If we have a home you like and you have something we can work with, you can be in a home in less than 30 days. Just be aware that if you have very bad credit and no money - unfortunately we probably can't help you. On the other hand, if you have at least fair credit but little or no money or if you have some money but have lost your credit, we can probably help you buy a home now. Please let us look at all the facts before you decide that you can't qualify.
Remember, we own the homes. We can do whatever you and we agree to make it work. You can't imagine how many folks are now in a home of their own because they let us work our magic. Most thought they couldn't qualify and could never buy a home.
They were wrong! Keep reading to see some of our most frequently asked questions.
You have damaged credit? Can you buy a home?
Of course! You'll be glad to learn that you actually can buy a home with damaged credit. In fact, it's quite common. To do so often requires a flexible seller who is willing to help finance part of your purchase price. You see, there are a lot of lenders who specialize in financing homes for folks with credit problems. To reduce their risk, they may simply reduce the amount they loan. This means the buyer must have a big down payment or the seller must be willing to finance the difference on a second mortgage. Getting you a loan is generally not a problem, however finding a flexible seller who doesn't need all their cash immediately, may be more difficult.
Is your debt ratio too high? How much home can you afford?
You may be surprised to learn how much of a home you can afford. Generally accepted standards say that your new house payment added to all your other monthly payments, should not exceed about 40% of your gross (that's before income tax) for you and your spouse. Keep in mind, that does not include items like insurance, clothing, food, utilities, entertainment, etc. You should add only those items with fixed payments such as cars, furniture, credit cards, mortgage, student loans, etc.. If an item doesn't show on your credit report, it probably won't count against you as a debt.
If you can't easily verify your income, what options are available?
If you feel you can't buy a home, because you can't verify your income, think again. Some of our happy customers felt the same way before contacting us, but they found himself in the home of their dreams within 30 days. There are several little known ways to verify income and many loans available that don't require it. In fact income verification is one of the easiest problems to fix in the home buying process.
You really have nothing to put down, can you really get financed?
It may surprise you to know we've helped other folks buy a home of their dreams with little or no money down. Conventional wisdom says it can't be done but conventional wisdom is almost always wrong. Frankly if you have no money and very bad credit, there's nothing we can do for you. However, if your credit is reasonably good and you have provable income, we have several programs available for you now. These programs are brand new and not widely known and are designed to help good folks buy a home with little or no money.
What about our lease option program?
Are you tired of making monthly rental payments? Think of all the money you've wasted in rent over the last few years. What do you have to show for it? Home ownership may seem to many to be an impossible dream. Saving enough money for a down payment while paying rent or trying to secure a mortgage with a low paying job or bad credit history, are only a few of the obstacles that make buying a home seem so difficult. Wouldn't it be great if some of these monthly payments could have gone toward the actual purchase price of your home?
Now they can! With our unique "Lease Option" program you can realize your dreams. The "Lease Option" program allows you to lease and occupy a home while at the same time building equity towards the sale price that we set the day you sign the "Lease Option" agreement. This way, you enjoy the pricing and value of ownership today even though you won't finally purchased the home until later. Plus, you also know that the work you do in the home will not be wasted when the lease is over.
Best of all, through this program, while you're living in your home of the future, you're also building equity, improving your credit, and putting yourself in a position where home ownership is not only possible, but easy.
This unique program truly makes home ownership a possibility for anyone with something to work with. To see the homes that are currently available click here.
Do you have a down payment, but want to get owner financing?
If you're looking to buy a home and feel that owner financing is your best option, you've come to the right place. We have several homes available and since we own them, we are free to work out special financing arrangements to suit your needs. We can provide owner financing for all or part of the purchase price, regardless of your credit, debt ratio, income verification, and other factors that prevent deserving folks from getting bank financing. However, this will require a down payment to make it possible.
Simply put, the more you have to work with, the easier it will be to get you in the home quickly, sometimes in just a couple of days, and under great terms. If you have a good down payment, the best thing to do is contact us now or call us to discuss your needs. To get a list of homes to tour, click here, and even if we don't have one available that you like, we'll add your name to our VIP list and we'll find the one as soon as possible.
Don't procrastinate because beautiful homes like these, which you can buy with owner financing are rare indeed. If we didn't own them, we couldn't offer such easy terms and obviously the demand is bigger than the supply. If you're serious about buying now, your best option is to start now. It costs nothing and there's no obligation. Just
click here to look at the properties we currently have for sale.
Remember, regardless of whatever kept your from buying a home in the past, don't let it stop you now! You're talking to the owner direct, not a realtor. We're free to work it out between ourselves without banks dictating the rules.
So, if you have a down payment and want a home of your own,
The choices are simple:
Do nothing, and continue to make your landlord rich
click here to look at our Attention Renters information.
Continue to be stuck in a home you want to get out of
ready for your inspection.
P.S. The choice is yours and yours alone. One more thing. We keep a list of serious folks who are looking for a home on file at all times. We notified these folks of new properties available first. They get a shot at them before anyone else even knows about them. Sometimes we do not even have a chance to advertise them on our web site. So, even if you don't like one of our current homes, make sure you to fill out our 'Dream Home' form to help us get started helping you find the home of your dreams. It costs nothing to explore your options.
to fill out our Dream Home Form.