This program is designed with you in mind. I will help you get into a home listed here on the website
but you will have to do some of the work. Most of these homes need some TLC.
Here is how the program works:
1. Take a look through the properties I have listed here on my website. There is no need to sign in or sign up. Everything is available for you to see for free.
2. Along the red line above Click on “Property Listings” to see all of the homes that are currently available where you live. But please keep reading so you know how all of this works.
3. When you find a home you would like to visit, email me to let me know you would like to view the home.
4. I will email you back an access code to the property. This will allow you go to the home at your convenience to view it. Do not trust pictures. They may be old. You must always view the home.
5. If you like the property after you have looked at it you can email me letting me know that you would like to proceed.
6. We will work out any details regarding the price by email. Never by phone. I keep everything in writing so there is no “he said, she said”. I will then email you an application with instructions on what to send back to me.
7. Once you are through the above process and approved I will send you a contract via email.
8. You will print it off and sign it, make a copy for yourself and overnight the originals to the corporate office in Houston Texas along with your Down payment.
9. We will send you back the fully signed contract within 2 to 3 days after processing at which time someone from our office will contact you to set up an electronic account on our management website. (kedollc.com)
10. You take possession of the house and start making payments. Payments do not include taxes and insurance. You will be required to maintain property insurance and the annual taxes.
The entire process takes only a couple of days as long as you provide the completed application and required documents.
The length of the term is 30 years. It is a lease with the option to buy. A portion equaling 1/360th of the total sale price minus the down payment will be applied toward the purchase price each month. We will hold the deed until the property is paid in full.
There is no prepayment penalty.
To qualify for the program you must have a clean rental history. Poor rental history may effect the amount of down payment required. You must have regular income adequate to cover your monthly payments. (Monthly payment x 3) I need to see bank statements and/or pay stubs.
How do you know this is not a scam?:
Sending money and never meeting a person can be scary. I understand. The fact is that it does not matter weather you meet a person at a house or over the internet. You can be scammed either way. Just because a person is in front of you does not mean he is not scamming you. Here is what you do. Pick any number of properties on my website and look them up on county websites. You will see only two owners. Morningside Funding LLC and Florida Homes llc. based out of Houston Tx. Your check will be made out to Morningside Funding or Florida Homes. Your monthly payments will go to Morningside Funding or Florida Homes as well. You can verify the address. When you mail in your documents and check you will send them overnight so they will have to be signed for. You will have a tracking number, an exact address and a person signing at the other end. That is more safe than meeting someone in a drive way who happens to have a key and a lease.
Here is an example of the terms:
(THIS IS AN EXAMPLE. MONTHLY PAYMENTS ARE NOT BASED ON INTEREST RATE OR OPTION PRICE) Therefore you can have homes with a $60,000 price tag but the monthly payments are very different. Monthly payments are based on location and are not tied to the sale price.
A $60,000 Option price, $2,000 down with a 30 year option to buy and monthly payments of $500 example.
We give you a contract that states we will give you the right to buy the house for $60,000 and we will reduce that sale price to you every month by $161.11 as long as you follow the provisions laid out within the lease which is a second contract. So where did this $161.11 come from? That is easy. You take the sale price of $60,000, subtract the down payment and divide it by the number of payment over the 30 year period (360) and you get your answer. This formula works the same for every property listed on my site. 60,000 – $2000 = $58,000 / 360 = $161.11
You can pay off the balance owed at any time with no penalty.
Any additional monies paid each month do not get applied to the principal only. They go on your account as unspecified credits.
If you do not see a home in your area you can subscribe for updates. As new properties come available you will get an email letting you know the new property locations.