Learn Why Homebuyers are Seeking Rent to Own Homes in Midland TX

Homebuyers are actively seeking rent to own homes in Midland TX and they are doing so for a variety of reasons. From the growing economy to low unemployment rates, there are many reasons that homebuyers should consider houses for rent to own in the Midland area.

One big reason homebuyers seek rent to own homes in Midland TX is the thriving economy. Much of the country has been hit hard by the economic downturn, making it difficult to find a place to live that has a solid economy. In spite of the country-wide economic problems, Midland continues to keep its economy strong. The population is growing. Retail in the area is growing and many companies offer jobs in the area.

Yet another great reason homebuyers are seeking houses for rent to own in the Midland metro area is due to the very low unemployment rate. With unemployment just above 4%, these numbers are less than half that of national unemployment numbers. Finding a job is important to anyone relocating to a new area and with a positive job growth, this area offers new residents excellent job opportunities.

For families, the educational opportunities draw them to rent to own homes in Midland TX. Excellent public schools are available, as are private and charter schools. Those who send children to the public schools will appreciate the 15:1 student to teacher ratio, which quite low. The fact that the public high schools send many students on to college is important as well.

These are only a few of the reasons that homebuyers are seeking rent to own homes in Midland TX. With these benefits in mind, consider beginning your own search at RealtyStore.com.

Top Reasons Buyers are Choosing Houses for Rent in Cleveland TN

Cleveland, Tennessee has been in the national and international spotlight as a city of great diversity and an excellent place to live. Not only have big publications like USA Today, Business Week and Forbes noticed all the benefits this city has to offer, but many individuals are choosing houses for rent in Cleveland TN. The following are just a few of the big reasons that people are choosing to rent homes in Cleveland.

Reason #1 – Affordable Rent

One reason that buyers are choosing houses for rent in Cleveland TN is because of affordable rental prices in the area. The city’s median rent is $600 and the combination of affordable rent and a low cost of living make this area an excellent choice for money conscious individuals.

Reason #2 – Job Opportunities

Houses for rent by owner are being chosen by buyers in the Cleveland area because of the job opportunities available within the metropolitan area. The unemployment rate within the city is lower than the national average, making it easier for individuals to find jobs. Manufacturing is also big within the area and with new manufacturing plants recently coming to Cleveland, it offers more job opportunities than many other cities around the country.

Reason #3 – Short Commute Times

Cleveland also boasts short commute times that are much shorter than the national average commute time. Those who choose houses for rent in Cleveland TN usually end up enjoying commute times of only 20 minutes or less.

Tips for Finding Lease Purchase Homes in GA

Are you interested in lease purchase homes in GA, but not sure how to go about finding them? Rent to own homes offer a non-traditional way to buy a home, which can be helpful to those who don’t qualify for traditional lending. If you’re interesting in going the lease option route, here is a closer look at how to find some great rent to own properties in the state of Georgia.

One idea you can use to find lease purchase homes in GA is to do an internet search. With a good search engine, you can search with relevant keywords, which may allow you to find some rent to own options in the state. In some cases, you may be able to find some listings on websites like Craigslist as well.

Of course, one of the best tips for finding lease purchase homes in GA is to use RealtyStore.com. This website has a helpful search engine that helps you search through areas in Georgia for the rent to own homes you want. If you’re interested in a specific city or county of Georgia, you can use the search engine to help you find results in that specific area. RealtyStore.com offers a one-stop place to find lease purchase options and many other non-traditional properties for sale as well.

Finding lease purchase homes in GA on your own can be difficult. However, by using RealtyStore.com, you can find excellent results that will help you find your dream home for a great price.

How To Recover From Hurricane Sandy With HUD Homes

In the wake of the devastation wrought by Hurricane Sandy, the federal government is offering stated that were affected to declare a moratorium of 90 days on foreclosures, however, the state of Connecticut has declined this assistance.

Commissioner of the state’s Department of Banking assures the feds that they do not need this moratorium because the major banks are doing their part in the area of disaster relief by working with residents affected by this enormously disturbing event. Owners of HUD homes that were damaged or destroyed should be relieved to hear this good news.

With many of the HUD foreclosures also damaged by the storm, HUD homes for sale are likely to be available at extremely low prices over the coming months.

HUD has also reported that they are going to offer forbearance on Federal Housing Administration-insured mortgages that have been in foreclosure, as well as making available FHA mortgage insurance available to those who wish to rebuild or purchase new homes after losing theirs during Sandy.

It is also recommended that those individuals who need assistance after losing their homes or incurring devastating damages should contact their mortgage lender to determine the options they have.

It is very likely that HUD will have increased numbers of homes to sell in the aftermath of this storm. HUD homes for sale offer the opportunity for home buyers to take advantage of some pretty hefty discounts as this area of the nation recovers from Sandy. As a matter of fact, HUD already had an inventory of vacant homes and foreclosures on its books prior to this incident.

To learn more about HUD homes, visit RealtyStore to get more information on HUD homes for sale. The Guide To Buy HUD Homes found there will help you learn how to buy your own HUD home.

HUD and FHA Lower Barriers To The Purchase of Mortgages For Distressed Hud Homes

HUD Homes are a Good Buy

Even as the US housing market starts to pick up steam, many real estate investors and prospective home buyers are noticing that now is one of the best times in many years to purchase real estate, whether as a residence or as an investment property. The federal department of Housing and Urban Development (HUD) has recently announced competitive auctions at which mortgage loans for single family HUD homes in default will be sold.

These mortgages will be sold in pools as part of the Distressed Asset Stabilization Program (DASP), an expanded version of a previous Federal Housing Administration (FHA) program in sealed bid auctions to be held in September of 2012; qualified buyers and investors will be allowed to bid for ownership interest in these distressed properties. Buyers who win these auctions will then have the opportunity to either earn an income through becoming the servicer of these defaulted mortgages.

The goal of the program is to help along the recovery of the housing market in the United States, especially in metropolitan areas which have been hit especially hard by the housing slump and foreclosure crisis. HUD has said that they see benefits for both buyers as well as the purchasers of distressed HUD homes. Purchasers who choose to service the mortgage will be able to earn an income from the homeowner’s mortgage payments, while at the same time providing a service to the surrounding neighborhood and the community at large by keeping these properties out of foreclosure listings.

The sale of these assets will also benefit the housing market as a while by reducing the Federal Housing Administrations costs and essentially, freeing up assets for this government agency to put to use helping other Americans become homeowners and fueling the housing sector’s recovery. Similarly, homeowners who are in default on the mortgages which are being sold at auction by Housing and Urban Development may have the opportunity to stay in their homes by working out a loan modification with the purchaser of their mortgage. Many other homeowners may be able to negotiate a lease arrangement and stay in their home in this manner.

Who Qualifies To Participate In The Auctions For Defaulted Mortgages On HUD Homes?

The FHA has announced the eligibility criteria for participation in the auction program. According to the FHA and HUD, qualified bidders who will be approved to submit sealed bids for distressed HUD mortgages must have a net worth of $5 million or more (with this figure to be calculated in compliance with Generally Accepted Accounting Principles). Unfortunately for the average would-be homeowner, it seems that most bidders will need to be corporate entities of some sort, including limited liability companies, partnership, business trusts, investment companies, banks and the like.

However, there are plenty of options available to buy homes at very low prices even for those who do not qualify to bid for these federally administered auctions. There are a large number of foreclosed properties currently on the market and for prospective HUD homes buyers who know where to look, there are foreclosure listings available which include residential and commercial properties located in every part of the country.

Websites like RealtyStore.com offer listings of HUD homes and extensive nationwide foreclosure listings, as well as rent to own properties, properties for sale by owner and other homes and commercial properties which are available at costs far lower than they would be available through traditional real estate transactions. Unfortunately, not many people will qualify to take part in the HUD/FHA auctions for the distressed mortgages on HUD homes, but with so many foreclosures and other non-traditional home purchase options available at present, it’s still a perfect time to buy a home, no matter who you are.

Why Own to Rent is Not the Best Choice for You!

Bank of America is trying a new approach to help people get through the recent economic troubles, but where rent to own housing was such a success, the new own to rent housing is looking like it’s not as popular – and certainly not the kind of thing that a wise investor would consider!

The housing market has been a bit tight recently, and the truth is that millions of people around the country have felt the crunch as the economic situation slowly wobbles its way to recovery after the Great Recession of 2008. Though many believe that the situation has been left far behind, a closer look at the financial markets shows that things have only begun to improve in the last few months. While the housing market has taken a turn for the better, things haven’t quite yet stabilized.

Bank foreclosures have been higher than normal in the last few years, and the rent to own houses arrangement has proven to be a boon for all. Many people were able to live in homes that they currently were renting, but they were able to tack on a rent premium that went towards the closing costs of their new home once their rent agreement expired. This was a huge help for people who were recovering economically, but who were unable to purchase their dream home at the moment. They could rent the home, and thus put aside towards buying it in the future. Most of these rent to own leasers ended up with a bit more equity on their home than they expected.

However, the new Bank of America initiative is actually the opposite, and the new "own-to-rent" option is taking a lot of flak from real estate professionals around the country.

Where rent to own housing enabled people to rent houses in order to buy them from their owners, own to rent housing is exactly the opposite. The owner of a house at risk of bank foreclosures is actually able to sell the deed to the bank, but they will be able to continue living in their home. They will basically rent the home from the bank that was about to foreclose on them, and they will no longer be the owner of their house.

No doubt you can see why this is such an issue for so many. While the rent to own option encouraged people to move into the house that they would buy within the next few years, the own to rent option is basically the bank saying, “Sure, we own this house, but we’ll have pity on you and let you continue living in it.” The house that once belonged to the occupants is now owned by the bank, and they are living in a home that they now have to pay rent for.

The bank is claiming that this option will allow those that are suffering from economic hardship to be able to continue in their current homes, ensuring that they aren’t evicted just because they are unable to pay the mortgage on their homes. The option offered by Bank of America is available to those that are more than 60 days behind on their mortgage payment, as well as for those that owe more on the mortgage of their home than they have in home equity.

This option has received mixed response from the public, though the majority of experts agree that this own to rent option is not the best choice for most. While it does give those with economic hardships the ability to continue living in their homes, it often means that they will continue to live beyond their means in a home that they were unable to afford in the first place. The bank has bailed them out, but they will continue to dig themselves deeper into financial holes.

On this topic, Jack Philson of RealtyStore.com commented, “While this allows both lender and borrower to avoid foreclosure proceedings, it's sad to see people deprived from their home ownership dreams. We'd encourage banks to consider more of a lease option approach, where the now-tenant would have an option to buy his/her home back in two or three years through a balloon payment, essentially a second down payment."

Jackie and David Siegel, the former King and Queen of Versailles

Riches to rags, not rags to riches is the theme of the Queen of Versailles, the story of David and Jackie Siegel, told through the eyes of a photographer who gets to see them first hand. Though they aren't the most wealthy family in the world, or even close, they are in fact billionaires in their own right. That, however is changing as bank foreclosures loom on a house that isn't quite built yet, but which was slated to be the very largest home in the United States. At 90 thousand square feet, the amazing house which is now subject to bank foreclosures and short sales like the rest of the world is nothing short of spectacular.

Bank foreclosures were the least of their worries when it came to the Siegel's much vaunted lifestly until very recently. Now their home is for sale for a cool 75 million dollars. David, arrogant to the end, on camera told how he handed the state of Florida to candidate George Bush in ways that could have been illegal according to him, making many question if that same methodology was used the last time around.

The Siegels are a study in the problems that can take place when anyone relies too heavily on the housing market goes. Nothing if not arrogant, Siegel touts himself on camera as the person who handed the state of Florida to George Bush in ways that frankly, may have been less than legal. Getting that kind of press and being a billionaire is a lot to look up to. Siegel is possessed of a vast amount of hubris, while Jackie Siegel appears to be nothing if not naive and unaware of what constitutes the real world.

The joke of the year has been that Jackie Siegel, in an effort to save money --economized by using the stretch limo to go to McDonalds to get their meal. Somehow that doesn't seem much like tightening their belt to the rest of the world. Faced with foreclosure and the loss of the lifestyle they are accustomed too, it doesn't seem that learning how to live on less is something they are going to embrace any time soon... even if short sales claim the largest house in the United States.