When Plans Fail, You Need Support

Newsletter-April2019-blog

A Rent-To-Own Agreement In Trouble

Several years ago, Drew and Lori entered into a rent-to-own housing arrangement. They had been working on rebuilding their credit after a series of professional setbacks and a family medical emergency racked up their debt.

When they approached the Auxilium Team, Drew and Lori's credit scores had not quite recovered enough to qualify for a mortgage with an ‘A Lender', but their rent to own arrangement was coming to an end. They both had found steady work with a solid income for their family. With $30,000 already invested in the property, they were committed to finding a solution that would let them stay in the home they had come to love.

Our mortgage brokers presented the options to Lori and Drew, and together we determined that a 1-year term with an alternative lender would be the best fit for their situation. This would allow them to continue improving their credit so that they could renew their mortgage at a more favourable rate sooner rather than later. At the same time, their monthly payments were reduced by almost 30% from their rent-to-own agreement, so they saw an instant improvement in their cash flow.

In just a few weeks, Lori and Drew went from being renters to owning their home. We have continued to work with them to make sure that each renewal of their mortgage term improves their financial situation. Even though their rent-to-own plans were in trouble for a while, the Auxilium Team was happy to support them with options to realize their home ownership goals. 


Does this situation sound familiar? You can CONTACT US TODAY to have the Auxilium Team working with you.

Do you know someone who could benefit from the same great service? REFER A FRIEND and we'll see how we can work with them.