Local Investor Offers Solution to Many Buyers With Credit Issues

Howard Brummel is a man who can think outside of the box. This local real estate investor has found a way to put people into houses that they love even when they would not be able to get traditional financing because of credit or income verification issues.

Howard, and other investors like him, offer their houses (he has over 40 right now to choose from) for sale through the very popular Lease/Purchase program. This method of selling a house is proving to be quite popular with the tighter restrictions that mortgage companies are putting on their borrowers now.

HERES HOW IT WORKS:

A buyer has some credit issues but needs a house to live in now. Instead of the traditional 10% down on a house, Howard only requires an initial 3 - 5% down. They have 1 year to clean up their credit while they pay rent on the house as if they were leasing it. As they make their payments on time, they are establishing a record of being able to make payments on the house for the future lender to see.

If they buy the house within the first 3 months, 100% of their on-time rent is credited towards the final purchase price of the house. If they close within 4-6 months, it's 75%. 7-9 months is 50% and 10-12 months is 25% rent credit. After 12 months, 10% of their rent is credited. By credit, I mean that that percentage of their rent will go, along with the down payment, towards to purchase price of the house.

A buyer can know that at least some portion of his rent is working towards the purchase price of the house. He is also buying time to work towards establishing better credit so that he will qualify for traditional financing and lower interest rates.

To read more about Howard's Lease/Purchase plan, you can visit his site by clicking HERE. You can also reach him at 770-591-9492.

My Newest Listing

I am so proud of my newest listing. I know a lot about the neighborhood, Hidden Branches, because I used to own a house on the same street. The neighborhood homes are all on approximately 5 acre lots so everyone has plenty of privacy and plenty of space to do their own thing. I really hated to sell my house and move.

The owner of this house has done some amazing things. First of all, his house is very unique in style and floorplan. It's a European/Bavarian stucco house on 5 acres with a creek and a pasture. The house is a passive solar design to take advantage of the sun in the winter for heating but shade in the summer to keep it cool. Everything (from windows to fireplaces to HVAC systems) are all high efficiency and designed to keep your energy usage low.

If you would like a private showing of this house, please call me today to schedule an appointment. I can be reached at 770-862-8002.

Woodstock, GA: Forbes Pick Among Fastest Growing Suburbs

In a recent FORBES MAGAZINE ARTICLE, Woodstock, GA is listed as the 10th fastest growing suburbs in the nation.

Woodstock is in a moderate climate, has a beautiful old main street with restuants and shopping, many affordable neighborhoods, excellent schools, several golf courses and recreation areas, plenty of parks with events continually scheduled in them, a major interstate situated conveniently nearby, a huge mall one exit south, and plenty for families to do! As you can see by this graph, Woodstock is a city full of children -



Would you like to be among the numbers who call Woodstock home? If so, why not give me a call today and I will get to work on finding just the right house to fit your needs. 770-862-8002.


Michael Bradford

Real Estate Tip #2

Ready to buy a house? Before you get in the car with your agent, a call to your bank, credit union or mortgage broker is a great place to start. We have all heard the news that foreclosures are at an all time high. Don't become a statistic! Learn about what programs are available and how much house you can buy before you find the home of your dreams. The National Association of Realtors has put together information designed to help you. Please visit the NAR web site for more information.

Don't let what happened to this house happen to yours! Ask your Realtor for help navigating the waters of home ownership.

Welcome to My Humble Blog

I am starting this blog for one reason: I want to inform people about as much as I can regarding the healthy real estate market in Cherokee County, Georgia. I am actively listing and selling homes. I also buy homes from people who do not want to list them. I usually rehab these homes and sell them or rent them out. I hope this blog will be a useful and entertaining place for you to visit.

Come Back Soon!

-Michael