L/O Saturation Or Very Popular?
In my newspaper (Orlando Sentenial) - it seems like there are more EZ credit, blah, blah, blah, Rent-To-Own ads in the homes for sale classified section, then straight "for sale" ads.
What are your thoughts on this?
Is this a good or bad thing?
Saturation?
Very Popular?
It's almost like it gives T/B's too many options. But at the same time at least T/B's will be knowledgeable and informed about a Rent-to-own.
THX
I found that here in Denver, too. I had a TOUGH time even getting calls on two houses I had L/O's on in December. In addition to lots of EZ qual stuff there are a ton of mortgage programs with pretty low rates that go down to 500 credit scores.
I'm looking for a 4 plex now.
It makes more sense for a person to own the house that to rent to own. With financing in the state its in right now. It is easier to be qualified as a first time homebuyer than to do a refi on someone that has lived in the house for 1 or more years.
It is mainly because there are so many programs, we have unlimited seller credits, which has most sellers doing a bridge loan and getting rid of the house. Banks are now offering the "AMERICAN DREAM PROGRAM" you must be considered "low income " to qualify.
But this has a lot to do with it.
Lori
[addsig]
Maybe the answer is to offer "Rent Credits".