JSC Rent To Own Homes

How to Get a Home Even If You Can't Get a Mortgage

There have been few times in history that have been better for one to buy a home than now. The current economic crisis and the mortgage market bust have caused the real estate market to collapse. The prices of homes are spiraling downward because there are fewer qualified buyers in the market. The key word in the previous sentence is "qualified". While there are many people who would like to buy a home and can afford monthly payments, they are not able to do so because they are not able to get a conventional mortgage. They are not qualified according to current bank standards. Many thousands of people who were qualified yesterday are not qualified today. This sudden downward shift in the number of qualified buyers has dramatically changed the supply/demand ratio in today's real estate market, and now it is the buying opportunity of a lifetime - if you are "qualified".

No doubt the current economic crisis will pass, banks will get more realistic with their qualification standards and the supply/demand ratio in the real estate market will normalize. But home prices will also rise. Those who are able to take advantage of today's market will be rewarded handsomely. But, what about those who are not able to take advantage in spite of being capable and responsible?
Consider a rent to own strategy (aka lease with an option to buy). This is one way you can take advantage of a buyer's market even if you are unable to get a traditional mortgage. Simply put, you can lease a house and include an option to buy it for a fixed price within a certain time period. With so many sellers in today's market that are unable to sell their home, there is a great opportunity to negotiate a lease that contains an option to buy the real estate for a fixed price (at today's reduced levels) at some point in the future when you would qualify for a mortgage. While there are some risks with this strategy, a properly constructed contract can, and should, benefit both buyer and seller. For an explanation of the rent to own concept, visit JSC Rent to Own Homes.

While at JSC Rent to Own Homes, you should consider placing a free home wanted ad there. There is no obligation whatsoever, and it gives home sellers/renters the opportunity to find you. There are few other places that give you this type of opportunity.

If you are trying to sell your home, place a home available ad on JSC. It also is free and without any obligation whatsoever.

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