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One Thing to Know About the USDA Mortgage Loan: Take a Look at Your Income

22 Jan , 2016  

Don’t get us wrong, though: the USDA mortgage is quite the secret in the real estate market. Just check this article out for yourself. If there was a way for someone to get a home loan approval fast and easy, it would be the USDA. But there are certain guidelines to keep in mind.

Keep an Eye on Your Income and Your Debt

It’s called the debt-to-income ratio. How much debt do you have? Is it ruining your credit? Do you need Lexington Law or Independent Credit Solutions to help you through those muddy waters? Good. Do it. But bear in mind that if the debt, plus the mortgage amount, just happens to be over 31% of your actual monthly income, the specific loan might be a no for you.
The VA program, another mortgage program out there, sticks to the similar rule: 41% is their measuring stick. Jumbo mortgage loans, the conventional ones, however, tend to stick to lower ratios overall given the assumption that when you take out a home loan, you’re entrusted to pay it every month despite whatever debt you already have.

And That’s What the Mortgage Guideline Is For:

It’s to protect you from buying a home that might be too expensive. When debt continues to drown you out, foreclosure commences. That’s something this real estate market won’t want given the growth we’re seeing in down payment averages and home prices.
So what should you do? Get on the right path, and without a doubt, the USDA mortgage loan might be your best bet, because it has plenty of benefits! Clean up your debt. Fix your credit. Sign up with the HOPE Program.

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Condominiums,Credit Repair,HOAs,Home Mortgages,Home Renting,Home Selling,Land Contracts,Landlords,Real Estate Market,Rent-to-Own Homes,Taxes

#ITPN   #Taxes  #Finance #RealEstate #Business #Investments

22 Jan , 2016  

#ITPN   #Taxes  #Finance #RealEstate #Business #Investments

Income Tax Planning » Blog Archive » The 1031 Exchange: Building Bigger Houses of Cards

We’re sure many wonder just how people get rich: tenacity. That’s the only way we can describe it. It all boils down to how you buy a candy bar for a buck and then sell it for two bucks. Simple as that. Increase the scale as high as you want to go, and you have a major money maker on your hands.

The post #ITPN   #Taxes  #Finance #RealEstate #Business #Investments appeared first on The Complete Real Estate Site.

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Home Renting,Landlords,Rent-to-Own Homes

Assisting Renters: How It All Begins With a Rent-to-Own

20 May , 2015  

Don’t knock the home renter one bit. Because that’s the start of a journey toward home ownership when you think about it. Name one person out there either in college or fresh out, and that person will tell you: home renting was how it all began. You learned about maintenance, utility bills, even home improvement, and you certainly learned how to negotiate like a real estate Jedi master, so clearly home renting’s very much like training for home ownership. Hence that’s why this little comprehensive site called Assisting Renters makes such a dent in terms of resources for the everyday home renter looking to advance the lifestyle and living for the ultimate preparation: a rent-to-own home, or perhaps even a zero-down mortgage.

Some Reviews of Assisting Renters to Watch Out ForAssisting Renters image

It’s all pristine and viral, nothing but positivism in this real estate cyberspace, so you know you’re dealing with the essentials: everything from home security, to credit repair, to identity theft protection, to entertainment needsEverything. And being a member gives you access to these resources for free, and many of these resources are of little to no cost to the potential home renter or soon-to-be homeowner.

But don’t take my word for it. Read up on these reviews:

And that’s just the beginning, honestly.

You Can Never Have Enough Assistance. Or Consultation.

You can expect plenty more content on services like Assisting Renters, and that’s just one resource out there that may help you. If you’re in the market for a rent-to-own home, though, one thing’s for sure: we can consult you, so contact us today, and we’ll help get you into that home as soon as possible. Heck, even Assisting Renters reviewed us, and they say we’re pretty cool!

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Landlords,Rent-to-Own Homes

Rent-to-Own Landlords, Watch Yourselves: You Have Rules, Too

14 May , 2015  

Don’t think rent-to-own landlords hold all the cards (and sometimes it seems like they do), because they really don’t. While oftentimes rent-to-own contracts will benefit those rent-to-own landlords, a certain flexibility and sovereignty still resides with the prospective tenant, and the major danger is such tenant just might forget about the fact that as home renter with many resources available, you have certain rights.

The Major Reason Why a Tenant Benefits From a Rent-to-Ownrent to own sink

Think about it: you’re still a home renter, even though you’ll be purchasing later on. That means you won’t have to worry about certain repairs to the house. Furthermore, your rent payments will be attributed to your credit report as many case managers for H.O.P.E. to Own will state. This means those rent-to-own landlords — who are often nothing more than other homeowners looking for some extra income out of the home they want to move out of — are responsible for everything from the broken sink to a bad furnace and everything in between. Make note of that.

Additionally, many of the questions rent-to-own tenants will ask involve a lot of legal ramifications. Here’s a big one for you: even if you’re planning on owning, does the rent-to-own landlord still own the property while you’re making your rent payments? The answer is simple: yes. After all, by contract, you abide by the date when the down payment is offered and the lease is signed over to you. Until that day, you’re still renting for that rent-to-own home.

This does also mean that rent-to-own landlord can evict you if you’re not making those rent payments on time. So here’s a little advice for you: be punctual. Don’t slack off. Treat it like a landlord-tenant partnership, and you’ll do just fine.

Rent-to-Own Landlords, and Tenants: In It Together

Sometimes the line gets blurred, though, and that’s where we, the rent-to-own consultants, come in. We’ll guide you to make sure you’re sticking to the role and observing your rights. Rent-to-own contracts can be tricky if you don’t know what you’re doing.