I created this blog a few years ago. Since I declared for myself that 2016 is the year to get my money right, I wanted to share this with whomever may have declared the same for their own finances in 2016. There’s some good information here that I hope everyone will find valuable, useful and doable.
Check it out,
http://becomefinanciallyliterate.blogspot.com/
Rent-to-Own! What’s that all about? Is it possible to Rent-to-Own a home?
Well, from what I’ve heard yes it is possible. Have I ever seen it done? I’ve read about it being done in the real estate industry. However, I have never witnessed one done successfully. I am aware of a young woman renting a home for the purpose of owning the home and within a 60 day period of her due date to acquire the home, she was told that family members were moving in so she would have to move out. Huh? But she paid her deposit and whatever monies were agreed to be added to the purchase price as a credit however she still had to leave. She did not get a refund of the monies she paid, she had to move with new money out of pocket and that was the end of the story.
As I said, I have read of rent-to-own being done successfully so I would gather than it is possible. If you decide to go that route I would strongly suggest hiring an attorney to protect your rights. Rent-to-own is a contract and any for rent-to-own should be handled legally with an attorney on your behalf.
Many people that I have spoken to think that it’s easier to rent-to-own instead of going the traditional route of purchasing a home. Granted mortgage restrictions may have gotten tighter since the 2008 meltdown however it’s not impossible to get mortgage ready. You just have to be ready to put in the work like anything else. Look at it this way–Let’s say you think you found your dream job with just the salary you wanted, perfect travel distance door-to-door, the perfect boss, employees who you love working with, everyone loves you and thinks you are the best thing since sliced bread. You show up on the first day eager to do your best to please your boss and show everyone that you’re the best person for the job. You’ve put in all the work to prepare yourself to be the best employee and then you show up and BAM! it’s the exact opposite of what you expected. You put in all the work and now you are very disappointed. This is the same way you have to think about getting mortgage ready. You have to be willing to put in the work necessary for a YES from the mortgage lender you choose.
Rent-to-own may be an option but it’s an option with risks. Choose to get mortgage ready for an easier yes from your chosen mortgage lender.
If you have a desire to get mortgage ready, me and my partner host a free credit seminar. To be informed about it, reply to this post!
Here’s to your new Home!
Cancer, Heart Disease, Hypertension! These will kill you too if you don’t hurry up and get to the doctor right away and do something about it.
Well, the same goes for your finances. If you don’t do something about your finances – acknowledge that you have some work to do, learn how to rock the task or activity of getting it done and take the action to do it, it simply will not get done. If it’s your heart, you’ll drop dead of a heart attack possibly. If it’s cancer, it will spread throughout your body. If it’s high blood pressure….well, you see where I’m going with this.
I spoke to a young lady who called me because she is looking for a rental and she wants to purchase a home in two years. Her credit is “trashed” as she described. When I asked her when could she come in and sit down to discuss everything and get started on her plan for her rental, her credit etc., she responded maybe Wednesday; huh? I then reminded her that the longer it takes her get in the office and get started, the longer it
would take to get her rental, etc.
When it comes to your money and how you are handling it, if you are not seeing the results you deserve and desire, then you cannot procrastinate any longer.
Proscrastination kills!
Don’t let it happen to You.
If your desire is to stop procrastinating and take action, It would be a privilege to serve. Contact me. Just reply to this post.
To your Health & Wealth!
How did that work for you? Have you lived in an apartment all of your Life and then were able to purchase your first home? Were you prepared for Homeownership? Did you know when to put the garbage out for pick up? Did you know that ants will greet you in your new home because they were already there?
Or Did you already know all of this house stuff because you’re just that smart or you were prepared because you knew that this is always what you were going to do?
Either way……
Share your Experience.
What is the plan for you and your family in this new year? Moving to your new Home or New Apartment? Get out of Debt? Find Your Dream Job? Get Healthy?
Whatever your goals are, you need a plan. If your plan is to WING It and see what happens along the way well I guess that’s better than no plan at all however, be aware that there is a better way.
photo courtesy of Google
P.L.A.N. Plan. It doesn’t take long to put a plan together and it doesn’t have to be an elaborate plan like Mission Impossible with Tom Cruise jumping off of a building and making it look like he never left the ground. All planning requires is to think ahead to the next step. Ask the question, “what if”? What if this happens or that happens, what will I do? What will be my next move? How will I get this done if I don’t have that or if this person is no longer available to help me or if the resource I was depending on is no longer available?
photo courtesy of Google.com
We all have a tendency of becoming comfortable and complacent in our present lives. If there is nothing going on to upset the apple cart then all is well and we’ll go on in our daily activities – work, school, home- just fine. However, this comfort and complacency can set us up for a false sense of security thinking all is well and all will stay well. Then BOOM! Upset the apple cart and we’re scrambling because we didn’t take that moment to ask that what if question.
For example, I’m assisting a friend of mine on the computer because he is not comfortable. However, since I’m practicing what I preach and thinking ahead I mentioned to him the what if question. I told him what if something happens and I am unable to assist because I am out of town or something you will need to be prepared to do it yourself because even though I may not be there you will still need to address your need. He hadn’t thought ahead because he was comfortable and complacent with the resource that is assisting him – ME- and he hadn’t asked the what if question.
There is a saying that if you fail to plan, you plan to fail.
It is already January 3, 2016 and as we move forward think ahead and don’t let comfort and complacency give you a false sense of security. Remember our most secure group are prisoners.
Here’s to your well planned thought out asking questions 2016!
photo courtesy of Dreamerstime via Google
Homes of Atlantic County NJ 