Hurricane Sandy Housing Relief Efforts

Hurricane Sandy has left many innocent people in a state of disarray, driven from their homes and facing an uncertain future. The Department of Housing and Urban Development (HUD) is trying to directly reach out to the victims of Hurricane Sandy, giving them short and long-term relief. They are trying to ensure that disaster victims, particularly those in the most damaged parts of Connecticut, New York, and New Jersey, have adequate housing or the opportunity to find it. Areas with a Presidential disaster declaration will receive special assistance. The United States Department of Housing and Urban Development will continue working to restore communities in the wake of this disaster.

Disaster vouchers to displaced victims and special loans to help victims get houses are among many options for those caught up in the aftermath of Hurricane Sandy. One of the reforms in the wake of Hurricane Katrina involved HUD homes being made available to hurricane victims at a reduced price. FEMA will request a list of HUD homes for sale and distribute those lists to disaster victims, so the victims can decide upon HUD homes that meet their needs. Another resource the victims can consult is RealtyStore, which will give them specific information about HUD homes, their pros and cons, how to hind them, how to buy them, and how to go about the full process of acquiring them.

The people most strongly affected by Hurricane Sandy are encouraged to take advantage of the HUD homes for sale. There are different financing options available for those interested in buying these homes, and leasing options available for disaster victims. Even people with other related financial problems should have the full range of opportunities, since buying government foreclosures often works differently than other forms of real estate.

Are Traditional Foreclosures Or HUD Homes A Better Choice For First Time Homebuyers?

The foreclosure crisis, it should surprise no one to hear, has been a national disaster. However, even disasters often also provide opportunities and the wave of foreclosures which has swept across the country and the corresponding housing slump is definitely no exception. There are an unprecedented number of homes showing up in foreclosure listings as well as federally owned HUD homes which are available to prospective buyers at a significantly lower price than a conventional home purchase, even given the state of the still-recovering housing market.

If you’re considering buying your first home and you've only just begun the process of looking around at your options, it’s understandable if you’re wondering whether HUD homes or the properties you may have seen in foreclosure listings are a good deal for prospective buyers like yourself. As it happens, there is no easy answer to this question. There are many foreclosed homes as well as commercial properties which are an excellent value, as well as those which are in poor condition, although the prices on these properties are generally quite reasonable. By the same token, there are HUD-owned homes which are also great deals; but again, the usual rule of caveat emptor applies.

Actually, HUD homes and foreclosures are not mutually exclusive. As it happens, many of the properties offered for sale by the department of Housing and Urban Development are foreclosed properties which are now owned by HUD. These properties, much like bank-owned REO homes, are available at low prices which are especially favorable to first time home buyers; like banks and other traditional mortgage lenders, HUD doesn’t really stand to gain anything by keeping vacant, unsold homes around. The federal government, in this case, is a motivated seller and that can work to your advantage as a home buyer.

Qualifying to buy HUD homes is relatively easy, with no specialized criteria for buyers. If you can qualify for a traditional mortgage, you can certainly purchase a home from HUD; and you may even qualify for a Federal Housing Administration (FHA) subsidized mortgage in some cases. However, given the enormous inventory of non-HUD foreclosed properties on the market, you may find it easier to find a home which appeals to you by looking at foreclosure listings online.

RealtyStore.com is one website which has an especially large database of foreclosure listings, with foreclosed residential and commercial properties available in virtually every metropolitan area in the country. Along with foreclosed homes, the site also offers a large variety of for sale by owner properties (FSBO), owner financed home sales, rent to own homes and other low cost options which make home ownership increasingly open to first time homebuyers.

Ultimately, the choice of whether to look at HUD homes or to find other foreclosed properties for sale is up to you. There are excellent deals to be had in both, so the choice will more than likely come down to the same criteria that would apply if you were taking the traditional path to home ownership: location, location, location, price and of course, your own personal tastes. There’s never been a better time to be in the market for a home of your own, however, so now is most certainly the time to get started shopping around, whether online or by looking at local advertisements and begin looking for a foreclosed property or a HUD home which meets your requirements and makes you feel like you’ve come home at last.

Furniture Rent-to-Own Scams Give Lease Options a Bad Rap

Rent-to-own scams are now running rampant in the furniture market. Those who are unable to purchase the furniture they need outright or on credit are convinced to sign rental agreements for their furniture. Some see it as an opportunity, but most feel it is simply their only option to get the furniture they need to live comfortably. By the end of the lease purchase agreement, they end up paying double or triple what they would have paid for the same furniture with a straight purchase.

Lease option homes are often considered rent-to-own frauds as well, but their agreements are actually very different. Renters are given the option to make rent payments over time just as with furniture rent-to-own agreements, but in the end, these renters are able to purchase the home with a down payment already saved up. Every monthly payment they make has a built-in deposit to their eventual down payment. It is a savings plan and a rental agreement wrapped in one convenient package.

While there are many rent-to-own complaints by victims of rent-to-own scams in the furniture industry, not as many people end up filing a rent-to-own complaint after signing into a lease option deal for a home. They typically see the opportunity in front of them and recognize the risks before entering the deal. The option is not something they are forced into doing, since they could very well find another home to rent without the lease option on the line.

So, what are the potential downfalls to signing into a lease option agreement? The biggest risk is losing your down payment money if you decide not to purchase the home when your lease term is up. These agreements are very specific, and you have to know your terms and protect yourself along the way. Specifically, look for the following clauses:

1. If you miss a monthly payment or are late on a payment, you could forfeit the portion of your payment typically going to save for your down payment. The agreement could eventually void if you miss or are late too many times.

2. If you are unable or unwilling to buy the house within a given time frame at the end of your lease agreement, you lose all money saved up for your down payment. You only get that money if you buy the specific house you are renting at the end of the lease.

Keep these risks in mind as you consider a lease option home, but understand that these deals are not rent-to-own scams!

But is 15 years too long to wait for home ownership?

How long should you wait to really own your home?

Some homes are being offered with a unique concept of lease-to-own: the owner of the house takes a small amount of the rent money paid by leasers towards the closing costs of the house. This new concept is only in place in a small community in Indiana, but the purpose of the community was to create an opportunity for families with less income to be able to buy their own homes.

The traditional lease-to-own option involves the same concept, but the lease usually lasts just a few years – 2 or 3, 5 at the most. This unique lease-to-own opportunity involves the home being leased for 15 years, after which time the family leasing the home has the option of buying it. But, 15 years? That’s quite a long time.

15 years is far too long to wait to be able to own a home, and the truth is that the traditional concept of rent-to-own homes is much more effective. While it may not be suitable for low income families, they are better for the average family that is looking to buy a home. After all, within just two short years, they will be able to purchase the home – with some of the money from their lease going towards the costs of closing the sale of the home.

For those who are going to lease a home with the idea of buying it in the near future, the traditional lease to own option is probably the best. You won’t have to wait 15 years to buy your house, and you can start the sale process within just a few short years of living in your home. It will be much easier for you to prepare for the sale, as you will be able to plan for it during the time that you are living in the home.

For low income families, however, these homes with the 15 year lease to own option can actually be a real boon. After all, they will be able to pay a fairly low rent on the homes – homes that can actually be fairly luxurious, according to the article. They will be able to live for a low price in these homes, and every month a small amount of their lease will go towards their ownership of the home.

A Users Experience of GetRentToOwn

Over the past couple of decades, home ownership was easier than ever to obtain. Credit terms were loose and zero down ruled until the housing bubble burst. Today, potential homebuyers have seen a return to a 10-20% down payment and excellent credit score requirements to qualify for a home mortgage. This in and of itself is probably the number one reason so many people are seeking out rent to own and for sale by owner options.

Get Rent To Own

Getrenttoown is an online subscription service that provides users with an all in one location for rent to own, foreclosures and a variety of related information. You might be wondering just why anyone would actually pay for this type of information. In fact, you may have even heard rumors of getrenttoown.com scams or getrenttoown.com complaints.

Using a service, such as this gives you access to a broad database of rent to own, foreclosures and for sale by owner properties across the country. In addition to listing information, you will also benefit from an array of related information such as credit management tips, sample rent to own contracts and much more. Whether you are looking to move across town or across the country, this service could be highly beneficial.

Overview and Comparison

Get rent to own dot com offers the potential home buyer a wealth of information. When you begin using the service, you will have to option to choose monthly, semi-monthly, quarterly or annual memberships with convenient billing options. Once you sign up you will have access to information on home listings designated by state. Also included:

• Listings separated by state
• County Listings
• Top City Listings
• Zip code listings

When you are searching for a new home, you probably have a good idea of regional location. Having the home listings separated by county, city, zip code and state allows you to easily narrow down homes by area and provides you enough information to research crime statistics, amenities, school systems and much more.

Once you have performed a search for property you can narrow the search results by price, location, zip code, property type and even auction date. Other available tabs for each property include map view, statistics/ trends and neighborhood. All you need to know about the particular area is available at the click of a button! If you have used Zillow or Realtor, you will quickly see a major difference as these two sites offer basic listing information and little else.

Customers - Videos - Complaints

A true test of a company’s worth resides in the customer experience. Regardless of the services offered bad customer service equals a waste of money.

John Catona- Moving to another state was made simple by your site!
Ernestine- great support services
Eloise Lovett- Great service!

Perhaps one of the favorite aspects of get rent to own dot com is their video tutorial series made available via YouTube. If all that were not enough there is, an entire section dedicated to common GetRentToOwn.com complaints. Are you having trouble accessing the site? Not finding what you were looking for? Get rent to own offers answers to all these issues and more, plus a toll free technical support hotline.

Signup Process

Would you like to take this service for a trial run? If you have heard any rumors about getrenttoown.com scams, you may be a bit leary about forking out $49.95, and understandably so! Thankfully, you can try this service, in full for 7 days without any risk at all. One single dollar is all it costs to take the service out for a spin, simply cancel before the end of the trial period. After the initial period, it is only $49.95 per month and you choose your billing options.

Conclusion

There are several sites on the internet offering similar services; however even with paid subscriptions, you often spend a lot of time researching. GetRentToOwn.com does all the legwork for you! If you are in the market for a new home but your credit is less than optimal or you have a personal situation that prevents traditional financing, get rent to own may be your best alternative.