Home Buying in Philomath>Question Details

artsprof1, Renter in Albany, OR

I need to find an investor to help me buy a house in Philomath.

Asked by artsprof1, Albany, OR Sat Jul 20, 2013

I am in immediate need of purchasing the house in which I’ve been living for the past two years. I am currently unable to qualify for a home loan on my own due to a credit ding following a divorce where my ex allowed our house to go into foreclosure. I would like an investor who will buy the house I am currently renting and then lease it back to me under a rent-to-own contract for a period of 3-5 years when I will buy it from them. My mortgage broker has informed me that my salary and credit scores are quite good and I’m an excellent candidate for a mortgage once the foreclosure is off of my credit report. The house is in a very nice neighborhood in Philomath, OR and will surely appreciate in value over the course of the next 3-5 years. It is a 4 bed 2 ½ bath house, 2500 sq feet with a view of Mary’s Peak. I am certain that the return will be well worth the initial investment. The house hasn’t had an official appraisal yet, but will likely sell for between $290k and $305k

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