The public consensus when facing Power of Sale or Foreclosure is to sell your home before the bank takes it.
Question: Why would you sell your home? Why would you give away the equity in your home? Do you want to sell your home because history has taught us when facing Power of Sale or Foreclosure you must do so?
Answer: Selling your home is not the best option if you want to stay in your home. HOS Financial has a revolutionary system that allows homeowners who are facing Power of Sale or Foreclosure to:
Yes…when you go through our Lease Buy Back program the title stays with the Investor who funded your application. However, you are never without legal right to the title of the property as the Purchase and Sale agreement to buy the property back is signed “before” the Lease Buy Back program is started.
As a general rule it is capped at 90% of the property value but on exceptions we can consider 95%
There is no Interest rate used when calculating payments. Our Payments are based on lease factors which adjust according to down payment, location and overall risk of any application. Our payment includes a portion for Down Payment Top Up (20% of total payment – included in payment total when quoted), Property Taxes, Home Insurance.
Be prepared for the following expenses:
· Appraisal Report
· Inspection Report
· ILA – Independent
If the issue is related to an unexpected life event during the lease but you have made your lease payments on time, we can extend the lease until you get by the life event and get back on track. If you have missed payments or have failed to follow the Credit Management, you are at risk to lose your Down Payment and accumulated Option Credits.
Yes. We have a program which will restore your Credit rating so you can return to main stream financing at the end of the lease term.
As you will be buying back the property you currently own, you will be responsible for maintenance and all Utility bills including the water bill.
Normally you are committed to the entire Lease term. Your Investor has incurred significant costs to enter the program with you and is looking to recover their investment. We have been successful negotiating with the Investor allowing clients to exit early. In our experiences long as the Lease Payments have been made on time and you can agree to the financial terms of the early exit provided by the Investor, an early exit is possible.
We recommend you allow 4 weeks from the time we identify the Investing Partner for your program. If you have been served with Notice for Power of Sale we “strongly” recommend you call us immediately as time is of the essence.