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Have you heard about the pitfalls of Rent to Own?
So have we.  That is why we scoured Canada to find the RIGHT Rent to Own program that focuses on the client...that being you!  
The program safegaurds you!  You choose your own lawyer!  You only proceed when you are comfortable and we only proceed when we're comfortable.

Did you know prior to CMHCs inception in 1946, Rent to Own was VERY popular as a way for people to own a home?  CMHC slowed that due to their low down payment after WWII.  
However, with the federal government's constant new rules, the possibility of CMHC going private and other factors, Rent to Own is again becoming more and more popular.
Over 200 people in Ontario every month, look into Rent to Own...either to buy a house or to save their house from foreclosure.

Benefits of Rent to Own Canada

  1. Get to have a look and feel of the house and neighborhood before making a decision. You can choose not to purchase.
  2. If you have poor credit history, you can improve your credit rating over the term and thereafter use rent credits to build your own down payment
  3. Most times at the end of your term, the market value of the home is higher than what you will pay to purchase it.  Gives you instant equity - On the other side, should there be a real estate crash and you do owe more than it's value, you do not have to purchase it
  4. However, along with the benefits, there are some risks involved in this agreement

Risks involved in Rent to Own homes Canada
  1. You will have to forfeit the option payment if you do not go through with the purchase
  2. There is no guarantee that the bank will give you the needed financing to purchase the house at term end...however, our partner has been doing this since 2005 and both them and us work with you during the term to ensure you WILL be able to obtain financing

Effective tips on how to Rent To Own your home in Canada
i)     We require a qualified inspection and appraisal before signing the lease and negotiate the best price for you upfront
ii)    If you decide to make monthly payments, write 2 checks; one for rent and the other for down payment. This serves as proof of how you 
       have contributed towards the down payment.
iii)   Do not assume that you can purchase a house without down payment - You will need min. 3% or you may lose in the end
iv)   Keep detailed records of every financial transaction that goes down
v)    Carry out some research on mortgages before signing the agreement - As licensed mortgage agents, we can help
vi)   Use your real estate attorney for Independant Legal Advice.  If your Rent to Own firm wants you to use theirs...walk!
vii)  Use your Real Estate Agent to help you find the right house or we can recommend an experienced realtor for you

 
Your friends may be right, renting to own in Canada is an effective way to get your dream home without a down payment. However, take time to weigh out the benefits and risks before making a commitment.

 
 
 
Refinance Program – Prevent Power of Sale | Foreclosure
We ALSO offer solutions for clients facing Power of Sale or Foreclosure through our ‘Refinance Buy Back Program’. 
A Program which will allows homeowners to stay in their home and avoid selling!  Keep  your kids in their school with their friends.

If you are an existing Home Owner in Canada facing Power of Sale / Foreclosure, your transition process will be from an owner to a tenant
and back to an owner at the end of the Lease Purchase Program. Our Buy Back program will allow you to resolve any credit challenges you are currently facing and allows you and your family to escape
Power of Sale / Foreclosure.  Plus, we're with you the entire time to get things cleaned up.  We want you to buy back your home and the investors/landlord wants you to buy back the house so they can continue investing in other homes.  A win/win.
 
Facing Power of Sale or Foreclosure? We can help!
Our specialty is helping families avoid the jaws of foreclosure and keep your family at home where you deserve to be. We understand how unexpected life events can affect personal finances.
If your current 1st or 2nd Mortgage lender is not renewing your mortgage…we can help!
If you are drowning in debt and need to refinance. We can help!

Our Rent To Own Buy-Back Model will:
  • Keep your family at Home and kids with their friends
  • Repair any Credit Issues you are Facing today
  • Eliminate any debt you have by accessing the equity you have in your home
  • Return you to a traditional mortgage at the end of the term
  • CHANGE YOUR LIFE
  • If you need to escape Power of Sale or Foreclosure in Canada, We can help!
 
If you are looking to purchase a home and determine Rent to Own is your best option, let your Real Estate Agent know. Your Realtor can still be involved in the process as usual.  Or, we can connect you with one of our Real Estate Agent partners if you prefer to be more discreet.

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