Money Watch Q & A: My Lease 2 Own
If your credit is blemished because of a short sale, foreclosure or bankruptcy, but you would still like to own your own home, there is an option for people serious about getting back into the housing market. It is called My Lease 2 Own.
Here is how it works. You decide on the home you would eventually like to purchase and, if approved, My Lease 2 Own will buy it for you. You then sign a lease agreement with My Lease 2 Own until you are able to get financing to buy the house yourself. Some people end up signing five year contracts; others commit to shorter term agreements.
To find out if you pre-qualify immediately, log onto https://mylease2own.com/ and click on the green button on the right side of the home page that reads Prequalify Instantly.
According to Greg Hughes, the founder of My Lease 2 Own, the company can also assist buyers with getting the best deal for their home. Since they use all cash offers, not only are their offers accepted more frequently, but usually at better prices than their counterparts. Also, since home values continue to go up every month, this program will allow you to lock in your price for up to the next 4 years.
If you have questions, call our Money Watch Q & A line between 5-6 p.m. to speak with Greg Hughes. Call (775) 858-2222.
You can also reach a My Lease 2 Own representative during regular business hours at the contact information listed below:
Written by Kristen Remington