Repossessed Homes

You can own a home with NO CREDIT CHECK!!!!

This is a great way to start owning your own home with NO HASSELS from banks or mortgage companies

Many people are able to afford to own their own home but due to circumstances in their life (past or present ) they are un able to qualify for a bank loan.

So how does this work?

These homes already have bank financing in place. Their former owners have either moved to a new home or due to circumstances have had to give them up. So we must find new buyers ASAP.

These loans on each property are current!

The Bank loans on these properties are current and due for the next monthly payment so you are not assuming a "Bad Loan"

How are the taxes and insurance paid?

Almost every bank loan that we have in place has the taxes and insurance included in the payment. So all taxes and insurance are current.

How do I know that we are paying the actual payment?

You will get a copy of the loan papers so you know the exact terms of the loan before you make a financial commitment.

Are their any time limits to refinance the home?

Yes. Usually 3 to 5 years, BUT... at the end of that period if the Buyer is not able to refinance a land contract will be offered OR an extension to the existing contract is offered.

How do I know that I will be able to refinance the home in that time frame?

First of all we help you with your credit by offering guidance on how to build your credit score. Second by following our steps, and paying your mortgage payment on time you will more be able to get refinanced during that time frame. And once again if you cannot then you just keep making payments and it's yours when the loan is paid off.

Do I receive any incentive by paying my payments on time or refinancing early?

Yes, we discount the purchase price if you meet the time frames, which means higher equity or cash back for you.

Is the loan amount all that I owe on the home?

Usually no. We secure a bank loan for well below its market value so you make the bank payment and when you purchase the home by refinancing the home yourself we get paid the equity that is due us.

Is a down payment required?

Usually YES. However the amount are MUCH smaller than a bank would require and don't forget your credit is not an issue with us. We do accept cash or any trades of value for the down payment.

THE DOWN PAYMENT IS ALSO CREDITED TOWARDS THE PURCHASE PRICE !!!

Example Home - 123 Main St

Appraise Value	$100,000.00
Purchase Price	$100,000.00
Loan Amount	$75,000.00
Amount due Seller	$25,000.00
Monthly payment	$775.00

5 years later

Purchase price	$100,000.00
Early payoff Discount	$ 5,000.00
Down Payment credit	$3,000.00
Amount due Seller When refinanced	$17,000.00
Appraised Value	$115,000.00
Buyer total loan	$ 92,000.00
Seller equity	$ 23,000.00 at closing

Don't forget that the property will probably be worth more in 3 - 5 years with your TLC and appreciation!!

The advantage for the Buyer is that he gets to start buying the property and has plenty of time to straighten up their credit while owning a home.

HOME CENTRAL

646 N. Main St. Suite 200
Marion, OH 43302
740-531-0266 (phone)
888-866-3075 (fax)

sales@homecentralinc.com