Released on = September 29, 2006, 6:31 am

Press Release Author = Camelot Marketing

Industry = Financial

Press Release Summary = Lease option to buy home programs provide solution for home
buyers that have been denied because of bad credit.

Press Release Body = Lease options to buy home programs are becoming increasing
popular with those that have bad credit problems and can not normally qualify for a
home mortgage loan.
Many have the miss-apprehension that buying a home will overcome or fix a bad credit
situation! Home buyers go from mortgage broker to mortgage broker looking for a loan
that does not exist, rather than try and remedy the problem.
To qualify for a home mortgage loan the bad credit situation has to be fixed first,
and not the other way around. Lease option to buy home programs provide that
solution.
Beneficiaries from a lease option to buy home program include those that are
recently divorced, suffered bankruptcy, or where FICO credit scores are simply too
low.
Lease option to buy home programs, also know as rent to own programs, are unlike
regular mortgages because the applicant does not have to qualify for a loan.
The first focus is on the ability to make monthly lease payments. As most are making
rental payments already this is not much of an issue. The second focus is on the
future potential for purchasing the home.
If there are bad credit issues to overcome, this can be worked on, while living in
the new home. Over time, most credit issues can be corrected.
Lease option to buy home programs make ideal alternatives for the self-employed,
compared to traditional means of home ownership.
The lease option to buy home program original agreement states the purchase price
the day the tenant moves in, and doesn\'t change. Any increase in the value of the
home belongs to the tenant when the loan is closed.
Typically, with a lease option monthly payments are less than it would cost to own
the same home. These monthly savings can be put away, and used to increase the down
payment at the time of actual purchase.
Depending on the situation, a tenant can occupy the new home in just a few days or a
move-in date can be scheduled around any current living situations.
A minimal down payment is required, or down payment assistance is available if
needed. The down payment, and a monthly rent credit, will be deducted from the
purchase price of the new home, reducing the amount of money needed at closing.
Lease option to buy home programs help tenants by improving their FICO score and
they can look forward to home ownership in a relatively short period of time.
For more information on lease to buy home programs please call 866 398 4664 or go to
http://www.goldmedalmortgage.com/Lease_Option_To_Buy_Home


Web Site = http://www.goldmedalmortgage.com/Lease_Option_To_Buy_Home

Contact Details = Keith Hunt
8190 Orchard Street
Alta Loma , 91701
$$country

9099871233
camelot21@mindspring.com
http://www.goldmedalmortgage.com/Lease_Option_To_Buy_Home