Rent to own really isn't a viable option anymore. This was more popular back when the market crashed, there was tons of inventory and sellers were desperate to sell. Now, most parts of the country have recovered and are experiencing a very healthy seller's market (more buyers than sellers), which means sellers can SELL very easily to a qualified buyer. I would try to figure out why you can't qualify and what you can do to fix that. Typically people looking for rent to own can't qualify due to poor credit, or high debt to income ratios. Maybe take some $$ that you would have put toward a rent to own situation and pay down or pay off your debts. Good luck!... more
Well, first of all, the 17 days is a negotiable time, that can be as short as 3 days or longer than 17! But the time line starts running, after the offer or counter is finally accepted by both parties.... more
Hello buddyinad, it only takes a few dozen questions to qualify and go over your options. Here are some links to study about me as well as web reference links to many loan programs...
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
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I specialize in portfolio loans and can do them in the 5's and fixed for 5 years....that gives them enough time to get into the conventional loan at their 7 year mark at fair rate pricing. It's not 3 pts either, it's 1.
This probably isn't much help, but if you entered the agreement in August, I would guess that there has been significant appreciation since then that would cover the amount of the loss? I would still try to negotiate the seller taking care of it, but I suspect that is one of the reasons that you do not want to walk away...
Real Estate Broker/ RealtorÂ®
McAllister Homes Real Estate
Residential Sales & Property Management
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