This place sounds so good to be true able to buy a home with no credit required and/or bad credit doesn't matter. They don't check your financial situation or anything. If you have the down payment and think you can afford the monthly payment you are good to go.
However, don't be more than 5 days late on your payment because you will inherat a 7% financial penalty. And if you are 30 days late you get a notice of forclosure.in 60 days you better be out because they are evicting you. Unless of course you have your monthly payment your late fee as well as a reinstatement fee of at least $500, prior to this time. Then you will loose all your down.
They sell you a house that is WAY over tax appraised value or any appraised value. The house we had they are selling for $100,000 over the tax appraised value and about the same amount over the last house that sold on the same street that was much bigger with new fence and awesome swimming pool. How they think they can sell these homes so much more than the appraised value then charge an unheard of fee schedule is unbelievable. Plus they don't follow the normal laws and rules of the forclosure process because of the way their attorney's drew up the sales documents that you sign at closing. They even have it where you go to their office to close on their houses, not a title company. No new appraisal done, no new survey done, no title searches. Big scam! More of a rental with a HUGE deposit and huge fees, especially considering when you are forclosed on it doesn't go to the courthouse steps, it goes to them.
Save yourself some money and don't give it to them, cause reguardless if you have it and can afford the monthly payments do you really want to pay $100,000 more than the tax appraised value for the home, and never be able to sell it if you need or want to because you are so far upside down?
Do your research before working with these people.
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