Money Watch Q & A: Buyer's Bridge Program - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Money Watch Q & A: Buyer's Bridge Program

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Typically when you foreclose on your home, you have to wait at least a few years to repair your credit and buy again. That is where the My Lease 2 Own program comes in. Basically, this program allows you to pick out a home that you would eventually like to buy and My Lease 2 Own will purchase it for you. You can live in it and pay rent for up to five years or until you qualify to buy again. A portion of your rent payments will go towards paying down your loan.

Most of the clients apply for this program while foreclosing, short selling or filing bankruptcy. There are some people out there, however, who are only months away from being able to buy again and they are finding themselves up against buyers who are willing to pay cash up front. In a majority of cases, a seller will pick a cash offer over a loan, so that leaves new buyers at a disadvantage. My Lease 2 Own has created a program to level the playing field. It is called the Buyer's Bridge Program and it is ideal for short term assistance. Again, My Lease 2 Own will pay cash for the home of your choice and you can buy it from them at your earliest convenience.

To learn more about all your options and how to apply, call our Money Watch Q & A lines at (775) 858-2222 from 5-6 p.m. Greg Hughes is the founder of My Lease 2 Own and he will be available to answer all your questions.

You can also find more information online. Click on: www.mylease2own.com

Written by Kristen Remington
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