Hello-
With lease purchases…if you will be paying the homeowner until you exercise your option to buy the property, how do you ensure that they are indeed making there mortgage payment to the lender and not just pocketing your lease payments?? Can you contact the lender in any way, shape or form??
trecey,
I have heard of people using an escroll agent to handle the money This is merely a dis-interested third party that will (for a fee) take your payment, pay the mortgage company and then pay the rest to the seller. That way you can be assured that your payment will not end up in the sellers pocket without the seller paying the mortgage and the seller can make sure that you are paying the mortgage and not ruining his/her credit.
Wilson
Thank you-- I believe I have heard of that also, so I will look up more info on that…Thanks again!!