Increase in Charlotte Lease Purchase Agreements

I have experienced a rise in Lease Purchase agreements here in Charlotte. I have found a wide variety of reasons for a lease purchase. So who is a candidate for a lease purchase seller? A local lease purchase seller must meet tight qualifications for the next mortgage. You must be able to comfortably afford both mortgages before you will qualify for the next home. If you are relocating, check with a local lender. A lease purchase may be an ideal option. Who does this help? A Lease Purchase buyer is a person that can not get financing at this time but will be able to in a year. many self employed business people are in this situation since the lending rules have changed and their past credit history now must also be supported by reported income. Most private business people reinvest their profits into their business and not take it as income. They must now change their business plan and take out proceeds of their business as income. This takes time to establish income. Another case is if you had late mortgage payments as a result of the economy over the past two years. You now have a new job and your income has returned. Your late payments must be seasoned before a new mortgage can be issues. Ultimately, there are many people that have fallen on financial hardship over the past couple of years. The reason for relocating is to bring your financial health back where it belongs. A lease purchase is a great option; you and your family are back in your own home and provides time to correct credit blemishes. Visit Charlotte Real Estate to learn more about your next home!