It's October...'nuff Said ! Since I am a Halloween baby, it's my birthday month (please don't ask my age!).
Not Long ago, we were quoted in an article on the new "Currency" site from American Express, titled, "3 Steps to Getting a Loan", and the article could serve as useful to any of our readers that are interested in procuring a loan.
The author, Christina Couch, summarizes the 3 steps as, "Stimulate Your Score", "Steady Your Finances", and "Readjust Your Debt Ratio".
Under the "Readjust Your Debt Ratio" step, Couch writes:
"...if you still can't get a traditional loan, you're not out of options. There are other financing opportunities to investigate, like renting with the option to buy. 'Deals like that typically last for 12 to 36 months and require tenants to pay a non-refundable option fee instead of a down payment—and usually, that fee is a lot cheaper,' says Robert Eisenstein, president of HomeRun Homes, a real-estate firm in Lake Ronkonkoma, New York.'There are a lot of creative ways to buy, and a lot of very specific mortgage programs out there, if you don't qualify for traditional loan products,' Eisenstein says. 'You just have to do a little homework.'"
Head on over to the new American Express "Currency" Site to have a look around at some really great articles (as well as the one mentioned above).
Next Week (Monday 10/4), the Pending Home Sales Index will be released. These are key figures, so let's monitor them together.
Have a Great Weekend, and Happy Rent-to-Owning !
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