The reality is that a very high percentage of lease option and rent to own buyers never actually end up owning the home that they contracted for because, quite simply, they never took the proper steps to ensure that their dream was realized.
I read an inspiring article this morning about a single mother who finally realized her dream of home ownership. After being inundated by the media daily about all of the foreclosures every month, it was nice to read a positive article about a success.
The article proves that when you provide serious and committed buyers with the proper tools and guidance, they take the steps necessary to rebuild credit to qualify for a mortgage and purchase the home.
So, what are the steps?
1. You must have a serious commitment to owning a home
2. You must evaluate your current situation with a microscope and ask the hard question, “How did I get here?”. Most of the time, people have never received money management training and have years of bad financial habits “programmed in”. This bad programming must be corrected because it always leads to the same destination…..frustration.
3. You must take responsibility for your current situation. You are accountable. You are where you are because of every decision you have ever made in your life. Own it. Accept it. Correct it.
4. You must be willing to do what it takes to rebuild. This can mean many things. It can mean earning additional income to pay off old debts. It can mean resisting the temptation to overspend. It can mean learning to budget properly. The key is to keep your eyes on the prize of home ownership and the pride associated with accomplishing your goal.
5. You must be partnered with the right people who are experts on credit restoration, mortgage finance, real estate contracts and financial planning. Successful people always surround themselves with people that are smarter than they are at subjects they need help with.
6. You must take action. Most people are dreamers who will never take action to realize their dream. Don’t let this be you.
As the article proves, you can do it! The question is, will you?
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