If you are faced with Power of Sale or your Lender won’t renew there are solutions!!
No matter how well intentioned we are, life still happens. Whether it’s through job loss, illness or a myriad of other life changing events, falling behind in a mortgage can occur.
This is where Rent to Own can benefit a homeowner. Rent to Own is typically something you would look for if you were repairing your credit and couldn’t qualify for a mortgage at the moment. You would seek an investor to buy the house, you would agree to rent for a set time, at an agreed upon monthly rent with an additional payment going toward the future down payment. Your purchase price down the road would be established upfront.
But now if you find yourself with a mortgage that the lender won’t renew because of bruised credit or you have gotten behind in your payments and your lender is taking action through Power of Sale, you have the option to do a Rent to Own.
It’s important to understand how things work before pursuing any option where bad credit is concerned, so talk to us and we’ll help you through the process and hopefully help you save your home from Power of Sale.
I would like more information about Rent To Own