Ron chats with Paul Ritter about Screen The Tenant and My Credit Team services (4 minutes).
How does the credit repair program work for tenant buyers?
(Audio file) Mitch Stephen chats with Paul Ritter about Credit Enhancement | Your Guide on How to Mediate Risk
What you’ll learn about in this episode:
(Audio file) In this episode of Not Just A Transaction, hosts Nick and Zachary speak with special guest and credit repair expert Paul Ritter. Paul discusses how he works with tenant buyers to get credit issues straightened out so that they can qualify for a loan at the end of the lease period, and he explains what huge differences set his services apart from other competitors that aren’t as invested in the success of the buyers.
What you’ll learn:
Quotes: "My job is to tell you how long is it going to be for them to be mortgage ready and what needs to happen in order for them to go from where they are to where they need to be." "You don't want to set them up to fail. You want to set them up to succeed."
- The goal of a lease option: everybody wins
- Why you want tenant-buyers who will qualify for a mortgage in 6 to 12 months
- Dodd-Frank banking law and lease options
- The reason people don’t currently qualify is important
- Know FHA loan requirements, loan level price adjustments from Fannie and Freddie
- Credit repair services for tenant-buyers
- Avoid payment shock between rent and mortgage payments