Lease to Purchase programs are toooo risky!! I had this experience before with clients and they took a leap of faith, signed the 2-year lease to purchase and could not qualify to purchase the home at the end of their lease and, of course, they lost their option money!! Please have an Attorney review your Lease to Purchase Contract.
I've seen a number of "programs" along these lines. Deed your property to an investor and enter into a lease/option??? Highly suspicious....think about your normal business model. Is this a transaction that you would consider in your normal course of business? I think it leaves the occupant out on a limb with highly predatory practices by investors that are attempting to manipulate the system. I suspect it will be revealed and eliminated soon anyway, why start the headache?
I have gotten several emails from them. I'm not interested for two reasons - 1. Some short sale approvals specify that the homeowner cannot repurchase the property within a certain number of years and 2. I tried another similar program (Home Owners Fresh Start - HOFS) and it's was closed down by the Feds. I forgot, I think you need to pay an upfront fee to participate in the program. Not interested.
Heheeheh... I know this lady who used to be my national conferences buddy. Hello Bessie, hope you are doing well. Fresh Start is a short sales mgt/coaching co. and claims they have a non-profit network to buy a short sale and could work a short sale lease back or buy back program. Attended one of their webinar but did not enroll in their program. They are very aggressive and emails 2-3 times a day (or too many emails could be a sign of desperation?) I felt their emailings are becoming much more of a nuance and ended up blocking it.
Comments
Lease to Purchase programs are toooo risky!! I had this experience before with clients and they took a leap of faith, signed the 2-year lease to purchase and could not qualify to purchase the home at the end of their lease and, of course, they lost their option money!! Please have an Attorney review your Lease to Purchase Contract.
I've seen a number of "programs" along these lines. Deed your property to an investor and enter into a lease/option??? Highly suspicious....think about your normal business model. Is this a transaction that you would consider in your normal course of business? I think it leaves the occupant out on a limb with highly predatory practices by investors that are attempting to manipulate the system. I suspect it will be revealed and eliminated soon anyway, why start the headache?
I have gotten several emails from them. I'm not interested for two reasons - 1. Some short sale approvals specify that the homeowner cannot repurchase the property within a certain number of years and 2. I tried another similar program (Home Owners Fresh Start - HOFS) and it's was closed down by the Feds. I forgot, I think you need to pay an upfront fee to participate in the program. Not interested.
Heheeheh... I know this lady who used to be my national conferences buddy. Hello Bessie, hope you are doing well. Fresh Start is a short sales mgt/coaching co. and claims they have a non-profit network to buy a short sale and could work a short sale lease back or buy back program. Attended one of their webinar but did not enroll in their program. They are very aggressive and emails 2-3 times a day (or too many emails could be a sign of desperation?) I felt their emailings are becoming much more of a nuance and ended up blocking it.