Financing and Credit

Which loan in today's market is available to your new buyers (when doing a lease option) that will that allow them to finance the property if it was just purchased by you? How can you anyone get around the entire seasoning issue without having to wait the 90 or 180 days to sell?

Keeping your credit score up is important in this day and age because everything we buy on credit requires us to provide them with our credit report, giving the seller information about our ability to pay our bills on time. Not everyone is lucky to have a good credit report. There are many reasons why people may have bad credit, not all of the reasons may be their fault, but at the same time, it does not exclude anyone. People who sell items to people on credit do not want to hear excuses. If your credit is bad, there are things that you can do yourself in order to improve it. Here are a few credit repair tips that you can use to get your score up and improve your report.

The Federal Trade Commission (FTC) says do yourself a favor and save some money, too. Don’t believe these claims: they’re very likely signs of a scam. Indeed, attorneys at the nation’s consumer protection agency say they’ve never seen a legitimate credit repair operation making those claims. The fact is there’s no quick fix for creditworthiness. You can improve your credit report legitimately, but it takes time, a conscious effort, and sticking to a personal debt repayment plan.

We are looking for short term financing 65k for two homes in rural utah. we have a bank that will do our refi...we just need to purchase for cash. any help/advice is really appreciated.thx!!

Here are some baby steps into getting out of debt by David Ramsey
Baby Step 1
$1,000 to start an Emergency Fund
An emergency fund is for those unexpected events in life that you can’t plan for: the loss of a job, an unexpected pregnancy, a faulty car transmission, and the list goes on and on. It’s not a matter of if these events will happen; it’s simply a matter of when they will happen.

Baby Step 2
Pay off all debt using the Debt Snowball
List your debts, excluding the house, in order. The smallest balance should be your number one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first.

Baby Step 3
3 to 6 months of expenses in savings

When it comes to deciding how to create a system to get out of debt, there are steps you need to take to prioritize, create and maintain your household budgeting.

Instead of feeling lost, frustrated and confused, here are a few tips to help you to prioritize your debt and expenses to get the most bang for your buck.
Create your budget including all income, bill payments, living expenses,
Always include a regular payment to yourself as part of your budget for your savings/emergency fund, this is essential to your financial well being.
Entertainment and allowances should not be eliminated from your budget, just keep them to a minimum so you can stay focused on reducing your debt but still enjoy life.
Look very carefully at your budget to see where you can cut out the waste.

One of the first things you need to do, whether you filed bankruptcy or just need to rebuild your credit, is to set out a plan to rebuild your credit, as well as how you will use your borrowing abilities in the future. Without a good plan of attack on your financing and borrowing usage, you will run the risk of being in financial trouble again within a few years or so. Don't become a repeat statistic. Plan now, for protection later
You have two options when it comes to repairing your credit ...

hire someone, preferably an attorney who knows the credit laws;
do-it-yourself using a good quality guide and your 3-in-1 credit report;
Whichever way you decide to go, here are just a few tips to keep you on track:

in my town, I found a duplex that needs a good amount of rehab. I talked to the seller about a lease to own which he accepts but I am a little bit unsure on how to structure the Lease to own so that if I cant pick up the option I am able to recoup my rehab money. I am thinking on doing the rehab gradually, one side has tenant and the other side is vacant. starts the rehab on the vacant side then move the occupied side afterward. Any ideas on how to structure deal please.

First let me tell you all, I have absolutly no money( I mean none!) My credit is wrecked!! Haven't even had a checking account in over 5 years. Dean says his tech. will work for anyone but I haven't even been able to afford more than a free sim. and study on this web site and reading his books. So I am all in if you all can help! I already got out and locked a property in at 47% below tax appraisal! I am excite but scared to death...I understand the concept and know that if I don't take a chance I won't do anything. So Where can I get the funds to make this happen?

The SAFE Act is about ready to be put in action. This law unfortunately will probably affect me and my company but probably not individual investors who are doing just a couple of transactions a year of seller financing.

The best Q and A that I have seen regarding this subject is at Realtors.com and here is the link:

http://www.realtor.org/government_affairs/seller_financing