The housing market is going through a sharp decline and the data that we have witnessed in news reports backs up the theory of more people turning to renting instead of buying,
Jacksonville, Florida (PRWEB) May 21, 2012
Lease option home purchases can be to a renter like the closing process for a new home is to a buyer. The dream of owning a home is one that does not come to fruition for every person. Personal finance issues like credit debt, previous foreclosures and job loss can complicate the approval process for purchasing a home. Rest Easy Home Solutions has officially launched a new website aimed at renters that dream of owning a home in the Jacksonville, Florida area. The website, http://www.homejacksonvilleflorida.com, is now available to provide renters with the opportunity of expediting the approval process for homes with a lease option. All properties that are available in the program are pre-owned by Rest Easy Home Solutions and subsidiaries. The traditional bank approval process is eliminated and renters now have the chance at owning their very own home.
According to a recent Bloomberg report, major banks and mortgage subsidiaries now own 60 percent of the U.S. housing market. Homeowners that have paid off their mortgage or went through a process of foreclosure are not included in this data. The recent loss in home values has been estimated to be higher than 33 percent. “We’re experiencing an unbelievable shift in the number of lease applications submitted,” said John Hogue, Consultant for Rest Easy Home Solutions. “The housing market is going through a sharp decline and the data that we have witnessed in news reports backs up the theory of more people turning to renting instead of buying,” Hogue added. One of the unique aspects of a lease option is the potential offer for putting no money down upon signing the lease. There are creative ways that can be explored when a person is short on finances, but wants the ability to make payments toward future home ownership.
National averages of an initial down payment for a home purchase are currently between 20 and 30 percent. A person that is recovering from high debt or other financial setback could find it more difficult to come up with these higher down payments. Debt to credit ratios can be included in the criteria used by banks and mortgage lenders when making a decision to approve a home purchase. Some landlords of apartment complexes and town homes do not report tenant rent payments to collection agencies and FICO scores can generally remain unchanged. One of the benefits of a lease option is that it can be one tool that could increase the credit score of someone trying to rebuild a poor credit rating. The new application and unorthodox approval at the Rest Easy Home Solutions website, http://www.homejacksonvilleflorida.com, could be the opportunity that a person needs to get a first or second chance at home ownership.
About Rest Easy Home Solutions
Real estate professionals and not realtors started Rest Easy Home Solutions to help renters find a way out of the rental cycle. Since buying and offering their first home in 2007, this team of real estate experts has expanded in the Jacksonville, Florida area. Homes in their inventory include single family homes, multi family homes and duplexes that are available for immediate lease option. By simplifying the traditional application process, Rest Easy Home Solutions is helping to make the dream of owning a home a reality for many renters that do not meet traditional home loan approval requirements.