Financing and Credit

Rent To Own Contract: What Lies Hidden In A Rent To Own Form?

A rent to own contract can be a win-win situation for both the buyer and seller... but only if you know exactly what you are signing. Read on as I dissect a rent to own agreement slice by slice and highlight what are the pitfalls to avoid.

Getting the Basics Right: What is Rent to Own?

I brought this up some time ago without too much insight. Has anyone heard of them and/or have had success with them?

As I'm understanding them, the premise is you buy a $100M bond for $80K, lets just say; and then you get assets to fill the bond to make it worth that $100M. The bonds are fully insured at $100M, so will pay out the $100M at the maturity in 10 years; or you can sell them earlier at a discount of 30% (so $70M for a $100M bond).

I remember all kinds of bad things about bonds in corruption a couple of years back; but I never heard not even a peep about these. Does anyone know anything about them?

I've enclose a Q & A sheet about them, but I'm reluctant as they sound too good to be true; and USUALLY if something sounds too good to be true, it is.

Hello DG Family,

In our search we have found that we qualify for funding on the purchase of a certain duplex with a bank. Unfortunately we need 20% down on the purchase side.

We are looking for someone who would be willing to finance us for the 20% down. It would be approximately for $20,000.

We also qualify for no seasoning refi loan as well so it will be short term. Please let me know if you are interested and we can discuss things in further detail:)

I look forward to speaking with you soon

I am looking to start using PML's for financing (specifically Self-Directed IRA's) and need some help in determining exactly how one would go about implementing such a transaction. Any advice is greatly appreciated! Thanks

Since many users here are looking for private money for one use or another, they may be approached or may approach others at this site for funds. I responded to a couple of ads in the ads area for people offering private money. I wonder if they are phishing through this Web site. Since this site's administrators and Dean do not offer any private money or a list of a private money lenders, it's hard to determine who's legitimate and who might just be trying to get personal information, cash or identity information for DG users.

This article on CNN.com really doesn't give any real secrets but it is still an interesting story to read.

http://money.cnn.com/2011/07/05/real_estate/mortgage_underwriting/index....

Hello Everyone.... I REALLY need some help or advice on a bank owned home I've been looking into... To start it is a 3/1 bank-owned single family home... The asking price is $40K, and I was gonna put in an offer of $30-$32K... I've been talking to a very reliable RE agent, and she said she could sell it for a minimum of $50K in 2-3.5 Months after rehabbing it for no more than $7K (to her aproval).... My problem is... I've looked everywhere for the past month or so, on finding a hard money lender or RE investor in Colorado and unfortunately, have not found one... I've also tried listing it as a short sale and have found no success there as well... I don't want to lose this awesome deal, and if I do.. Maybe it just wasn't meant to be.. (as this would be my first deal...

I could really use a good hard money lender for amounts less than 50 k does anyone have a lead?

What Is The Loan To Value Ratio?

The way banks and mortgage lenders decide whether to make loans on certain houses with a certain value is not really a mysterious process, although you don't hear much from them while you're waiting for an appraisal and for a loan commitment. It can be a long, tiresome wait!

Mortgage lenders use a specific criteria to determine whether you are personally qualified for a mortgage, which all has to do with the ratio of your debts to your income. But the other part of their determination uses different criteria, it is all about the appraised value of the house, it's not about you at all.

Has any one used this service if so how did it go and is it legit thanks