Helpful Facts About Lease Purchase Homes in the State of Georgia

Rent to own homes have become a popular option and many homebuyers find them an excellent no-traditional buying option. Of course, the area where you purchase those homes is definitely important. If you’re considering lease purchase homes in GA, it’s a good idea to know the facts about lease purchase homes and what the state of Georgia has to offer. Here are a few helpful facts that may prove helpful.

One of the helpful facts to know before deciding to purchase homes in GA using a lease option agreement is the good availability of rent to own homes in this state. According to RealtyStore.com, many homes are available across the state. In fact, you can find them in most counties of the state, making it an excellent choice, no matter where you want to move in Georgia.

Another helpful fact to remember when considering lease option homes in GA is that home prices are reasonable right now. Real estate prices have dropped in the past few years, making homes affordable within the state. It’s possible to find condos, manufactured homes and single family homes that come with the lease purchase option. For those looking for reasonable home prices, Georgia is an excellent location.

If you’re concerned about Georgia’s economy, it’s helpful to known that the overall economy is quite diverse and the state is home to the headquarters of many large companies, such as SunTrust Banks, Home Depot, UPS and Coca Cola. Although unemployment rates are still a bit higher than the national average, unemployment rates are decreasing and more job creation is being seen within the state, which is important to those considering lease purchase homes in GA.

HUD and Hurricane Sandy

Homeowners and potential homeowners have already suffered a great deal these last few years with the crash of the housing market and problems with the economy, which affects resale value and makes paying the mortgage more difficult. The devastating effects of Hurricane Sandy have taken an already stressed population, and left them with a tremendous need of assistance. Purchasing HUD homes will be an increasingly viable option for many such individuals, as part of the government’s targeted relief effort towards helping those caught up in such unfortunate circumstances and bringing the fractured East Coast back together.

HUD homes (homes foreclosed by the House and Urban Development) are in many cases properties the original homeowners lost through foreclosure and have become part of a property inventory. The original aim of HUD homes and their associated organization was promoting community development and giving more people in need the opportunity for homeownership and the associated stability. Today, in the wake of Hurricane Sandy, there will likely be HUD homes for sale to support the victims. The U.S. Department of Housing and Urban Development is working with FEMA and the state governments to identify available housing units. Federal disaster assistance and support to low-income renters and homeowners in Connecticut, New York, and New Jersey are particular priorities, as are all specific areas most affected by the storm. Homeowners interested in available discount HUD homes for sale should consult RealtyStore online.

Buying HUD homes is in part a matter of qualifying for financing. Buyers must first get their credit details sorted out, and then consider which homes will be affordable for them given their current financial situations. The HUD homes for sale will make this easier for many of the victims of Hurricane Sandy, particularly in the wake of such a terrible disaster.

Don’t Let a Bankruptcy Hold You Back From Owning a Home Again

If you've gone through a bankruptcy, you may be wondering if you’ll be able to buy a home again in the future. The good news is that it is possible to own a home again, whether you've gone through a bankruptcy, foreclosure or other financial difficulties.

While it may be a couple years before your able to purchase your own home, you can spend your time preparing to make this dream come true. Your credit will be poor after a bankruptcy, especially if it involved a short sale or foreclosure on your previous home. The good news is that you can build your score back up again to accomplish this dream.

Simple Steps to Buying a Home After Bankruptcy

Are you ready to start working towards purchasing a home? If so, here are a few simple steps to buying a home after bankruptcy. Follow these steps to get on your way to home ownership once again.

Step #1 – Check Your Credit Reports

Before you start heading down the road to home ownership, you need to start by checking your credit reports. Take time to order your report from each of the top three credit bureaus. These bureaus include Equifax, Transunion and Experian. Since lenders will be looking at your credit reports when considering you for a home mortgage, you need to know what these reports look like.

Step#2 – Examine Reports for Mistakes

Once you have those credit reports, you need to examine them for mistakes. If you’ve gone through bankruptcy, previous items that were discharged should no longer appear on your credit report. If you notice these items are still showing, make sure you write to the credit reporting bureau and request that the item be removed. Certain obligations may not exist anymore and the obligations should be removed, but keep in mind that these discharged items like a foreclosure will still show up in some way.

Step #3 – Work to Rebuild Credit

While your credit score will eventually come up in the years after the bankruptcy, you should do what you can to rebuild your credit to make it easier to get a home mortgage. You can rebuild your credit by making sure payments are always paid on time. Opening a small secured credit card and paying it on time can also be a great way to rebuild credit. Pay off as much debt as you can as well to improve your debt to income ratio.

Step #4 – Save Money for a Down Payment

Although it’s definitely possible to own a home after bankruptcy, you probably will need a down payment. It’s a good idea to start saving money right after you go through a bankruptcy. Work to save up at least 10% of the total home value for a down payment.

Step #5 – Start Looking for Lenders

When you’re ready to buy, start looking for a good lender. Traditional lenders and online lenders both have great benefits to offer. Keep in mind that you will probably see higher interest rates on your mortgage because you may still be considered a high risk for foreclosure. If you’re having a tough time finding lenders, seeking out a mortgage broker is a great idea.

Dos and Don’ts to Remember

Along with the helpful steps toward purchasing a home after bankruptcy, it’s a good idea to remember a few dos and don’ts. Whether you've dealt with a bankruptcy, foreclosure or short sale in your past, keep these helpful dos and don’ts in mind as you work towards buying a home once again.

• DO pay of undischarged debts as quickly as possible.
• DO make sure you only buy a home that is within your means.
• DO realize that you will probably pay higher interest rates
• DO  understand that you may be able to refinance later for lower rates and payments
• DO  know what it takes to re-establish credit with the FHA
• DO  consider using small limit credit cards or small loans to prove credit worthiness.
• DO  think about asking a family member to co-sign on the mortgage if they have good credit.
• DO  remember that income verification will be an important part of procuring a mortgage.
• DO  consider rent to own homes as a viable option.

• DON’T apply to every credit offer you get.
• DON’T  add debts that are not essential.
• DON’T  forget to create a budget and handle money wisely to get back on track financially.
• DON’T  get taken by fake rent to own homes scams.

Your dream of buying a home can be realized, even if you've gone through bankruptcy and a foreclosure on a previous home. Keep this information in mind and you can be on your way to owning your own home once again.

Good Advice about Rent to Own Properties

There is good news for people who are still renting because a credit score or other problem is prohibiting purchase of a real estate bargain. A recent article refers to the opportunity of rent to own homes. Even better, it addresses the things prospective buyers and sellers need to know about the process, such as costs, obligations and guidance.

Both lease option agreements and those for rent to own homes are discussed as an advantage. Additional rental premium is held in a separate account by the owner to apply towards a down payment. If an option fee is part of the agreement, it will be credited to the down payment.

Guidelines suggest steps to take before signing an agreement. Verifying ownership, a clear title and an appraisal are just a few of the hints to avoid problems. Another valuable tip is to speak with a mortgage lender about how to qualify to buy the home when the lease option agreement expires. A current appraisal will provide the lender with documentation to review.

In-depth issues regarding rent to own homes are addressed to serve as a caution to both buyers and owners. These include issues when the home has lost value at the end of the agreement or the prospective buyer does not qualify for a loan. Advantages given the homeowner in this type of situation are also covered. The result is that both parties enter the agreement better informed and likely to successfully complete the transaction.

Bank Foreclosures On The Rise

Bank foreclosures are once more on the rise as lenders begin processing properties with unpaid mortgages again.

After the ‘robo-signing’ scandal broke, all major lenders stopped processing them until there was a resolution. After a $25 billion settlement was reached, along with more safeguards to prevent this problem in the future, banks are now starting proceedings on those properties that have been held up during the hiatus. Additionally, there are more homes that have fallen behind in their mortgage payments in the interim

In May, almost 54,000 homes finished the foreclosure process in the US, an increase of 7 percent over April. Bank foreclosure notices starting the process were at nearly 206,000, an increase of 9 percent over April.

Short sales keep the number of bank foreclosures from looking more dramatic. A short sale is one in which the bank will accept less than what is owed on the mortgage rather than complete the foreclosure, requiring the bank to take possession.

Foreclosure listings will also swell over the coming months, giving small investors a greater chance of finding housing bargains.

Georgia showed the largest statewide increase with a 33 percent jump in foreclosure activity between April and May, and a 30 percent increase over May of last year.

The 10 states with highest foreclosure listings are: Georgia, Arizona, Nevada, California, Illinois, Florida, Ohio, Michigan, and South Carolina.

FSBO Homes get National Attention through RealtyStore

Exposure to over 3 million visitors per month is a very good reason to forget the agents and expensive advertising for FSBO home sellers. For less than $20 a month, a for sale by owner can now enjoy all the unique opportunies that make realtystore.com the most visited online foreclosure website today.

Not only incredible exposure, but also an audience of late stage buyers give you the most interested potential buyers found anywhere. With over 40% of all homes being closed with non-traditional deals, RealtyStore also provides the most up-to-date training on creative avenues of financing.

For Sale by Owner clients are praising RealtyStore for the easy to navigate site for helping with a quick turnaround with their homes. Easy to follow maps, neighborhood positioning and detailed information makes a remarkable presentation to anyone shopping for a home.

By launching this new feature of For Sale by Owner to home sellers nationwide, higher exposure, professional marketing and quicker sales result in the best outcome possible for buyers and sellers. RealtyStore is a leader in providing customers with necessary tools, data and strategies for maximizing profits on undervalued real estate. FSBO clients can expect to be amazed with the technically advanced search and "Smart Store" at realtystore.com., in addition to fast offers.

Housing Chief States That HUD Homes Need More Protection

According to Shaun Donovan, Secretary of the Housing and Urban Development department of the United States of America, even though the real estate market of the country is on the up, the government still has to forward more help to many homeowners. Shaun Donovan, who recently had a round table meeting with D – Miramar’s Alcee Hastings and the leading professionals from Consolidated Credit Counseling Services, went on to add that the number of owners of HUD homes who need help to avoid foreclosures and are not getting it is too high.

It seems that Shaun Donovan is encouraging the government to pass the series of reforms that have been tabled by the President of the country, Barack Obama. While there have been many reforms forwarded by Obama, one that stands out and may help in preventing short sales of HUD homes and foreclosures is the bill of rights. The bill of rights is designed to keep lenders from including hidden fees and default penalties in the borrower’s contracts along with encouraging them to use simpler mortgage applications.

The proposal from Obama is expected to be considered by the Congress this month. It is expected by many sellers and buyers of HUD homes and foreclosures to ease the pressure on them a little.

Is GetRentToOwn.com a scam?

Finding a home that meets all of your needs and that will help you to keep your family safe and comfortable can be a difficult task. In fact, if you ask many people that have gone through the home buying process, they will tell you it was one of the most mentally challenging things they have been through in their lives. This is because you are making a very big investment and you want to make sure you are making the right choice. You can spend hours upon hours driving from home to home with a realtor or you can take measures into your own hands and find the home that is just perfect for you by visiting a site like getrenttoown.com.

Although I was able to find a couple of getrenttoown.com scams claims, after reviewing this site and what it has to offer, this is the best possible way to see homes that are for sale or that are being offered on a rent to own basis in the areas that you would love to live. This site has so many benefits that the small fee that is charged hardly seems relevant.

From this site, you can find information about the homes in the area that are for sale, that are being sold by the owners with owner financing, and even those that are foreclosed upon and that the banks desperately want to get rid of. You can also read articles about the risks and rewards that come with each type of these processes. The information that is available to the users makes the home buying process much easier and they can do it all from the comfort of their home or office.

In many cases, the getrenttoown.com complaints have been addressed by their customer support people, and many of them even leave testimonials. They have been extremely happy with the results that they got from this site and are even referring their friends and family members to this site for their home buying needs. They were pleased with the quality of the information that was given regarding the properties as well as the customer service that is offered. They were given the necessary help to find the home of their dreams and they are vocal about their gratitude and satisfaction.

If you would like to know more about this site without taking the time to explore all of the information on the site on your own, you can go out to YouTube and hear all about it. These videos will walk you through the site and point out the areas that may be of the most interest to you, other than the home listings of course. They were created to show how much value can be found when you pay the small monthly fee to access their information.

While you can find reports of getrenttoown.com scams out there, take time to find out what the real problem is before you make your decision about this home buyers resource. Many of the scam complaints are due to monies being charged to their credit cards when they thought that the fee was much less initially. The problem with this scam statement is that getrenttoown.com has very clear statements about how the fees are administered. There is a specific cancellation period that must be adhered to before the full monthly fee of $49.00 gets charged to your card. Had the person read what they were agreeing to, this would not have been something they could complain about.

Upon reviewing getrenttoown.com, you will find that they are accredited by the Better Business Bureau and that they operate with a security certificate to ensure that your financial information is kept safe. They are very good about making sure you know what you are agreeing to, that is if you decide to read it as you should. The trial membership is a great deal and it is likely that you will want to keep the membership for a month or longer so that you can ensure that you have found the best possible deal for the home that will meet your needs.

Anyone that wants to do some research on their own and see what is available in the areas that they would like to live should sign up for getrenttoown.com. The getrenttoown.com complaints that have been reported are simply due to people not reading what they are agreeing to. This site can provide you with valuable information that could help to eliminate the headache that often comes with purchasing a house.