With thousands of Americans still struggling to make ends meet, people are learning to get creative to make good things happen in their lives.
It’s especially true in the arena of rent-to-own real estate. The concept of rent-to-own has been around forever, but it’s often overlooked because it doesn’t fall under the category of more traditional real estate investment.
Rent-to-own is similar to owning your home or investment property, but with a few key differences: Instead of paying money to a lender, you are paying rent to a landlord. A percentage of your rent goes toward your eventual full and complete ownership of the property, just like with a mortgage.
Renting to own is a fantastic alternative for buyers with less-than-perfect credit scores who would have trouble qualifying for more traditional methods of financing. Because the landlord is the mortgage holder, he or she bears the risk and has already gone to the trouble of qualifying for financing. You simply pay the landlord your rent under more lenient terms.
In today’s delicate economy, creativity is the name of the game. Bank of America has gotten on board with its innovative new mortgage-to-lease program (still in the testing stage – learn more in this month’s “Hot Off the Press”). Rent-to-own may be the perfect next step for those who have already fallen victim to foreclosure and are looking for affordable ways to rebuild their credits and get back on their feet.
You can search for available rent-to-own properties from the comfort of home with Foreclosure.com. Simply navigate to our website (right here), then choose your search area. You will be able to narrow your search down to rent-to-owns by clicking on the “Rent to Own” tab in your search results.
Searching Foreclosure.com’s extensive database is free, so you don’t have anything to lose! Check out the rent-to-own properties in your area now. Click here.
It’s especially true in the arena of rent-to-own real estate. The concept of rent-to-own has been around forever, but it’s often overlooked because it doesn’t fall under the category of more traditional real estate investment.
Rent-to-own is similar to owning your home or investment property, but with a few key differences: Instead of paying money to a lender, you are paying rent to a landlord. A percentage of your rent goes toward your eventual full and complete ownership of the property, just like with a mortgage.
Renting to own is a fantastic alternative for buyers with less-than-perfect credit scores who would have trouble qualifying for more traditional methods of financing. Because the landlord is the mortgage holder, he or she bears the risk and has already gone to the trouble of qualifying for financing. You simply pay the landlord your rent under more lenient terms.
In today’s delicate economy, creativity is the name of the game. Bank of America has gotten on board with its innovative new mortgage-to-lease program (still in the testing stage – learn more in this month’s “Hot Off the Press”). Rent-to-own may be the perfect next step for those who have already fallen victim to foreclosure and are looking for affordable ways to rebuild their credits and get back on their feet.
You can search for available rent-to-own properties from the comfort of home with Foreclosure.com. Simply navigate to our website (right here), then choose your search area. You will be able to narrow your search down to rent-to-owns by clicking on the “Rent to Own” tab in your search results.
Searching Foreclosure.com’s extensive database is free, so you don’t have anything to lose! Check out the rent-to-own properties in your area now. Click here.
This entry was posted in Foreclosure.com Website Search Tips, Real Estate Newsletter | April 2012. Bookmark the permalink.
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