- BRIDGE LOANS
The Second Chance Program is designed for homeowners facing foreclosure, providing opportunity to remain in the home.
With strategic partnerships we have developed a program that specifically assists distressed homeowners facing foreclosure. We will perform a mortgage payoff on the distressed property along with a lease purchase agreement. At a later, agreed upon date, Homeowner may repurchase their property or choose to sell it.
If you absolutely want to stay in your home and have a STEADY INCOME, The Second Chance program is your solution!
Before we complete the transaction for acquiring your home and exercise the lease/option agreement Second Chance Program we would like to emphasize some important points for you to consider going forward. Please consider the following as you assess this transaction:
1.) No one can predict the future economic situation, so all of our calculations are done on the basis of the economic conditions as they exist today. We have undertaken our best efforts to reflect these conditions in our analysis of your situation as it stands today.
2.) When you determine that you are able to purchase back this property based on having attained a qualifying credit rating you should understand that interest rates may change from today’s interest rates which obviously means that your ability to purchase back this property could be altered somewhat.
3.) The future of home values could change in the time this lease is in force. Although home values seem to be steady today, they could increase, or they could decrease. However, you are protected by our lease agreement to the extent that if home values increase, your buyback price remains the same. On the other hand, if home values decrease during this time, again your purchase price remains the same. Be sure to consider this before you agree to the terms of this lease.
4.) Please understand that Fast Money For Flips LLC are now your landlords, therefore as your new landlords you are required to make the monthly mortgage payments just as you were required to do previously only per the terms of the lease/option agreement. You can be in violation of this agreement if you don’t make your payments per the terms of the agreement, therefore you could be in jeopardy of losing your home.
5.) You must understand that the buyback price is effective anytime during the term of the contract whether you qualify one day after signing the agreement or go the full term.