Buying A New Property Management Companies

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Statistics say, “79% of boomerang buyers are interested in buying a house again... 41% report that their income is higher than when they 1st purchased.” (www.tucson-property-management-companies.info) These buyers obviously have to rebuild their credit and endure the waiting periods that lenders require before reviewing their financial status for another mortgage. Waiting periods could range from twelve months to as long as seven years after a short sale or foreclosure, depending on the lender and/or program the borrower has committed to. If a 'boomerang buyer ' meets the criteria and participates in the Federal Housing Administration’s (FHA) Back-To-Work Program, “The participant could buy a new property in as few as twelve months following his foreclosure or short sale.” (www.heraldtribune.com) The ‘rent-to-own’ option is a great and promising option for ‘boomerang buyers’ to regain homeownership. First off, it gives these buyers time. Generally, 'rent-to-own ' lease agreements range from one to three years depending on their negotiated terms; this can coincide with the imposed waiting periods. Meanwhile, these 'boomerang buyers ' can begin saving money toward the purchase of the house while enjoying the advantages of already living in the home of their choice. This window of opportunity also allows the buyer a chance to establish a good payment history with his landlord who in return will be able to speak (as a creditor) positively on the buyer 's behalf should that

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