Rent To Own Fraud Is Abundant
Not a day goes by that I don’t hear from clients about some new company or website that defrauded them.
In a market filled with con artists, it can be difficult to separate yourself from the thieves, especially given the claims that we make about getting clients with derogatory credit who don’t qualify for a mortgage into a home after they have already been declined for a mortgage.
In this post, I am going to share with you the answer to how you know I am for real as well as show you what to watch out for and steps you can take to protect yourself from being robbed.
First, to answer the question about how you know I am for real, we have to understand the metrics involved. I can simply tell you that I am, but that doesn’t really provide you any substantiation or comfort, does it?
After all, would someone actually tell you they are trying to defraud you?
Probably not.
To that end, we go to great lengths to provide third party validation. In other words, we put our money where our mouth is and say, “Don’t take my word for it. Don’t trust me. Talk to some of our actual clients and hear it straight from the horse’s mouth.”
For independent third party validation, we presently use two sources:
- The Better Business Burea with whom we have an A rating and have for years
- Actual client testimonials that provide their names, email addresses and phone numbers so you can speak directly to them.
Is there anything better?
An independent consumer watchdog and actual clients that have been through our process and are living in their dream homes independently and individually validate our integrity.
That’s right, on our Testimonials page, you can read the testimonials of actual clients and get their email addresses and phone numbers to speak with them directly.
Isn’t that really who you want to talk to?
If the person or company you are dealing with doesn’t have client info or won’t let you speak to them, why not?
What are they trying to hide?
Beyond that, there are a number of other factors which include:
- Deal structuring- In other words, ensuring that you have the legitimate ability to own the home during the contract term. Many investors purposely structure deals to fail.
- Foreclosure Protection- You probably won’t find this anywhere else but not only do we provide mortgage verification up front, our contracts stipulate that you are to receive it every month. That way, you don’t have to worry about paying the monthly payment and getting a knock on the door because the owner took your money and didn’t pay the mortgage.
- Credit Restoration Requirement- Our program and contracts require that you enter into and maintain credit restoration until you are qualified for mortgage financing AND we provide you with step by step tutorials on exactly how to do it. Our program is so effective that one of our clients recently increased her credit score by 191 points in only 69 days and legally eliminated 28 derogatory accounts. You can read about and see her actual credit scores here.
- Contract type- This is a biggie. The actual contract you end up with using our program is a contract for deed, not a lease option contract. What this means is that you become the legal owner immediately upon contract execution and payment of initial down payment funds. You can legally deduct the monthly payment saving you up to $1000 per month depending on your monthly payment and tax situation (which you can get back every month in your take home pay if you follow our guidance), obtain home owner’s insurance and get a multi-lines discount on your car insurance. What would you rather do, rent and be a tenant today or buy on a contract for deed and own the home today? The choice is yours.
Long story short, our deals are designed to succeed, protect you, help ensure that you actually own the home and help you make and save money.
You can buy with confidence and know that not only are you not buying a home in foreclosure, there is no concern about your home being foreclosed on and you actually get to own the home today while restoring credit to qualify for a mortgage.
Are you ready?
Enroll Now and then sign up for our Custom HomeFinder Program
Top 10 Questions To Ask Before You Sign A Contract On A Rent To Own Home
Now, here’s what to watch out for if you are dealing with other companies:
- Do they actually have or get homes or are they merely trying to sell you a list? (We actually contract on homes and obtain an equitable interest. We don’t sell lists.)
- Can you speak to any of their actual satisfied clients?
- What type of contract do they want you to do? (Fannie Mae, Freddie Mac and FHA no longer give credit for rent credits on lease option or lease purchase contracts)
- What protections do they offer to ensure that the home you get doesn’t get foreclosed on due to non-payment by the owner?
- Do they provide you a monthly mortgage statement indicating that the payment is current at the time you make your monthly payment?
- Are they rated by The Better Business Bureau? If not, why not?
- Is your contract of sufficient length for you to qualify for mortgage financing?
- Are they helping with credit restoration? If not, why not? If so, can they provide examples of successful clients?
- Do they want you to send them substantial money on a house they say they have before you see it? Anybody can advertise a home on the Internet, it doesn’t mean they actually have it.
- What is their experience? Are they Realtors, Investors, Mortgage Brokers, or a combination of the three?
These are just a few of the questions you should ask to determine if someone is legit or whether they are trying to make a fast buck. If they don’t have the answers, they don’t have your best interest at heart.
Enroll Now and then sign up for our Custom HomeFinder Program
Feel free to leave me a comment below.
