Frequently Asked Questions |
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hOW QUICKLY CAN I GET INTO A RENT-TO-OWN HOME?
Question
How quickly can I get into a Rent-to-Own home?
Answer
The option to Rent-to-Own is a benefit or privilege that you eventually work yourself into. Yes, it is one of the benefits of our program, but you have to meet specific eligibility requirements before you can take advantage of this benefit. You must have a specific credit score. You must have a specific amount of money saved. You must demonstrate a strong work ethic and ability to follow a budget before becoming eligible for a Rent-to-Own home.
In order to participate in a Rent-to-Own, we have to process your application, setup your backoffice and start the consultation series to determine your eligibility.
There are three steps to the enrollment process.
step (1) Pre-enrollment interview.
step (2) Collection of your personal information.
step (3) Execute the Electronic Enrollment Documentation (agreements).
After completing these steps you are considered a participant of the program and are now eligible for your first several consultations. In these consultations we will review your credit, budget and personal situation. The Advising team will recommend a course of action specific to your situation that should move you forward in the program, toward home ownership, through a series of consultations.
At the natural point of progression through these consultations where specific credit, budgeting and savings criteria have been met, you will eventually reach a point where you become eligible for the Rent-to-Own privilege.
These steps could take weeks, months or even years in some cases. Each family is different and unique and the speed at which you can secure a Rent-to-Own home is really controlled by you and your situation. It would be silly to think you can simply fill out some paperwork and move into a Rent-to-Own home. That is not realistic in any way.
If you have a strong work ethic, a good attitude and the right expectations, a Rent-to-Own home could be a future benefit you can enjoy.
How quickly can I get into a Rent-to-Own home?
Answer
The option to Rent-to-Own is a benefit or privilege that you eventually work yourself into. Yes, it is one of the benefits of our program, but you have to meet specific eligibility requirements before you can take advantage of this benefit. You must have a specific credit score. You must have a specific amount of money saved. You must demonstrate a strong work ethic and ability to follow a budget before becoming eligible for a Rent-to-Own home.
In order to participate in a Rent-to-Own, we have to process your application, setup your backoffice and start the consultation series to determine your eligibility.
There are three steps to the enrollment process.
step (1) Pre-enrollment interview.
step (2) Collection of your personal information.
step (3) Execute the Electronic Enrollment Documentation (agreements).
After completing these steps you are considered a participant of the program and are now eligible for your first several consultations. In these consultations we will review your credit, budget and personal situation. The Advising team will recommend a course of action specific to your situation that should move you forward in the program, toward home ownership, through a series of consultations.
At the natural point of progression through these consultations where specific credit, budgeting and savings criteria have been met, you will eventually reach a point where you become eligible for the Rent-to-Own privilege.
These steps could take weeks, months or even years in some cases. Each family is different and unique and the speed at which you can secure a Rent-to-Own home is really controlled by you and your situation. It would be silly to think you can simply fill out some paperwork and move into a Rent-to-Own home. That is not realistic in any way.
If you have a strong work ethic, a good attitude and the right expectations, a Rent-to-Own home could be a future benefit you can enjoy.
wHAT are THE ELIGIBILITY AND PRE-ENROLLMENT REQUIREMENTS?
Question
How does someone become eligible for enrollment into the housing program? What are the pre-enrollment steps?
Answer
Here are the three basic steps that a candidate must complete to complete the enrollment into the program.
Step (1) Contact our Advising team to start the process. click here to complete the online form and request that we contact you.
Step (2) The Advising team will ask you to review the following pages on our website.
An applicant must watch all the video presentations and read all available information on each of these pages before being eligible to enroll.
Step (3) Once you have reviewed the website thoroughly and familiarized yourself with those specific topics, the Advising team will conduct an enrollment interview. This interview is designed to ensure the applicant has actually followed our instructions and reviewed the website and specific topics suggested.
If you do not pass the pre-enrollment phone interview, you must go back to the website and review the information on each page and study the information until you reach a point at which you can competently explain how the advising and gfc savings programs both work.
How does someone become eligible for enrollment into the housing program? What are the pre-enrollment steps?
Answer
Here are the three basic steps that a candidate must complete to complete the enrollment into the program.
Step (1) Contact our Advising team to start the process. click here to complete the online form and request that we contact you.
Step (2) The Advising team will ask you to review the following pages on our website.
- click here to review the video testimonies.
- click here to review the benefits of home ownership.
- click here to review the benefits of our advising system.
- click here to review the benefits of our gfc savings program.
An applicant must watch all the video presentations and read all available information on each of these pages before being eligible to enroll.
Step (3) Once you have reviewed the website thoroughly and familiarized yourself with those specific topics, the Advising team will conduct an enrollment interview. This interview is designed to ensure the applicant has actually followed our instructions and reviewed the website and specific topics suggested.
If you do not pass the pre-enrollment phone interview, you must go back to the website and review the information on each page and study the information until you reach a point at which you can competently explain how the advising and gfc savings programs both work.
What are the steps taken during the enrollment?
Question
What are the exact steps taken during the enrollment?
Answer
What are the exact steps taken during the enrollment?
Answer
- We collect your personal information over the phone and feed it into the electronic system.
- You will receive an email from from Authentisign (by instanet solutions).
- The header of this email will read "Authentisign Invitation to Review & Sign Documents".
- The email will contain instructions and links to begin the signing process.
- Review all the pages and complete the signing process.
- Send a text message to the Advisor listed in the Authentisign email and let them know that you've completed the signing process.
- Send a 2nd text message to your Advisor and include the date you want the egfc of $500 to be debited from your banking institution.
- Check your banking institution after approximately five (5) business days from the date you gave us to see if the debit has occured.
- Send a text message to your Advisor letting them know when the $500 has been withdrawn from your account.
- You and your Advisor will coordinate by text on dates for your first several consultations which typically occur 4 to 7 business days from the date you notify us that the $500 debit was successfully withdrawn.
what has to be signed in the electronic enrollment documentation?
Question
What has to be signed or executed in the Electronic Enrollment Documentation (EED)?
Answer
The EED will include, but not be limited to the following documentation.
The EED is sent electronically to the candidates personal email address for review prior to executing.
What has to be signed or executed in the Electronic Enrollment Documentation (EED)?
Answer
The EED will include, but not be limited to the following documentation.
- Electronic Application
- ACH debit agreement
- Ownership Benefits
- Advising Program Benefits
- gfc Program Benefits
- Housing Program Disclosures
- Sourcing Agreement
- Personal Conduct Agreement
The EED is sent electronically to the candidates personal email address for review prior to executing.
how is the program considered free if we have to pay money into the gfc?
Question
How is the Advising System considered free if we have to pay money into the gfc savings program?
Answer
The proceeds paid into the gfc savings program are accounted for when you complete the program. to the participant through up to seven different transactional funding methods or (tfm)s. (click here) to review the details on how the (tfm)s produce funding benefits that are equal to or greater than the balance of your gfc savings program.
The reconciliation process will result in funding benefits that exceed what you saved in the gfc savings program. If you get more than what you put in, then all the time and energy spent in the consultations cost you nothing.
This is how and why we claim that our program and the Advising System is FREE.
How is the Advising System considered free if we have to pay money into the gfc savings program?
Answer
The proceeds paid into the gfc savings program are accounted for when you complete the program. to the participant through up to seven different transactional funding methods or (tfm)s. (click here) to review the details on how the (tfm)s produce funding benefits that are equal to or greater than the balance of your gfc savings program.
The reconciliation process will result in funding benefits that exceed what you saved in the gfc savings program. If you get more than what you put in, then all the time and energy spent in the consultations cost you nothing.
This is how and why we claim that our program and the Advising System is FREE.
Can I enroll if i don't have $500?
Question
Can I enroll into the program if I don't have the $500 egfc? Can I get started and pay later?
Answer
The enrollment gfc or egfc of $500 must be paid prior to initiating any consultations. It's impossible to start the program unless you start the consultations. The first consultation is not scheduled until 5 to 7 business days after the egfc payment of $500 has been successfully deducted from your bank account. click here to read the gfc explanation.
Can I enroll into the program if I don't have the $500 egfc? Can I get started and pay later?
Answer
The enrollment gfc or egfc of $500 must be paid prior to initiating any consultations. It's impossible to start the program unless you start the consultations. The first consultation is not scheduled until 5 to 7 business days after the egfc payment of $500 has been successfully deducted from your bank account. click here to read the gfc explanation.
Why can't i save money on my own? Why pay into the gfc?
Question
Why can't I save money on my own? Why do I have to pay into the gfc savings program?
Answer
We will complete a budget together in one of the first few consultations you have with our advising team. We actually require you to save money in your own account and pay into the gfc savings program. (click here) to review more on this topic within the gfc explanation.
The only way to ensure success is to create accountability by giving you something to lose, as explained in the gfc savings program explanation (click here).
In order for you to “participate” in our programs you must have your “money” as collateral. In order to hold you accountable you must commit your money and it must be a significant enough amount to keep you motivated to continue with the process and see it through.
Payments made to the Foundation (gfc payments) are not refundable. That means that you have something to lose if you don’t do what you are supposed to do to complete the program. By requiring you to fund $10,000 (over-time) we have a mechanism to keep you engaged. You stand to lose a substantial amount of your money should you fail to complete the process.
Why would you fail? Failure isn’t a result of doing the work. Failure is a by-product of laziness, impatience, poor work-ethic or unrealistic expectations. You can succeed with our help. We will provide the knowledge and guidance. You need to have realistic expectations, a strong work-ethic, a humble willingness to let someone else guide you, a positive attitude, and a determination to get it done, no-matter-what.
If you can't or don't want to put your money up as collateral then you will NOT be able to participate in the program. See the answer to the next question.
Why can't I save money on my own? Why do I have to pay into the gfc savings program?
Answer
We will complete a budget together in one of the first few consultations you have with our advising team. We actually require you to save money in your own account and pay into the gfc savings program. (click here) to review more on this topic within the gfc explanation.
The only way to ensure success is to create accountability by giving you something to lose, as explained in the gfc savings program explanation (click here).
In order for you to “participate” in our programs you must have your “money” as collateral. In order to hold you accountable you must commit your money and it must be a significant enough amount to keep you motivated to continue with the process and see it through.
Payments made to the Foundation (gfc payments) are not refundable. That means that you have something to lose if you don’t do what you are supposed to do to complete the program. By requiring you to fund $10,000 (over-time) we have a mechanism to keep you engaged. You stand to lose a substantial amount of your money should you fail to complete the process.
Why would you fail? Failure isn’t a result of doing the work. Failure is a by-product of laziness, impatience, poor work-ethic or unrealistic expectations. You can succeed with our help. We will provide the knowledge and guidance. You need to have realistic expectations, a strong work-ethic, a humble willingness to let someone else guide you, a positive attitude, and a determination to get it done, no-matter-what.
If you can't or don't want to put your money up as collateral then you will NOT be able to participate in the program. See the answer to the next question.
I don't have $10,000. How does the gfc payments work?
Question
I don't have $10,000. How do we determine what the payments will be for the gfc savings program?
Answer
You might think that it is nearly impossible to save $10,000, and rarely does anybody have that amount at one time. With our program, we take the slow and steady approach. You do not need to have $10,000 upfront or all at one time. Together, we will build a custom payment plan based on your budget.
We begin with $500 when you start the program. Your first several consultations with our advising team will include (1) a tour of your backoffice where everything is tracked, (2) a discussion on how to complete a budget and (3) a look at your credit profile.
During the budgeting consultation, we examine your income and expenses.
Hopefully, your income is greater than your expenses, and you have a positive differential. It’s positive because you have more income each month than you do expenses. This is the source from which we create your payment plan. If your income is say, $3,000 a month and your expenses total $2,000 a month. This means you have $1,000 a month to work with.
If your expenses exceed your income then you are living beyond your means and you have a negative differential. We help you turn that negative into a positive differential.
We use the positive differential to address paying off debts that you may have.
When debt is not in the picture, we deploy two types of savings strategies.
Saving strategy #1 is a monthly commitment to making gfc payments.
We will track and report gfc payments in your backoffice, so you always know exactly where you are in the savings process.
Saving strategy #2 is a commitment to making payments into a savings account at your bank.
Every so often we will ask that you provide bank statements showing the balance of your personal savings account. The balance should be increasing at about the same rate and amount as the gfc savings balance.
Together, these two savings strategies will get you where you need to be to qualify for a mortgage.
By the way, a positive by-product of this plan is that over-time you become conditioned to save your money.
After you complete the purchase of your home, we highly encourage you to continue saving money. We even offer advanced savings strategies for future purchases of vehicles, investment properties and retirement.
click here to read the gfc explanation.
I don't have $10,000. How do we determine what the payments will be for the gfc savings program?
Answer
You might think that it is nearly impossible to save $10,000, and rarely does anybody have that amount at one time. With our program, we take the slow and steady approach. You do not need to have $10,000 upfront or all at one time. Together, we will build a custom payment plan based on your budget.
We begin with $500 when you start the program. Your first several consultations with our advising team will include (1) a tour of your backoffice where everything is tracked, (2) a discussion on how to complete a budget and (3) a look at your credit profile.
During the budgeting consultation, we examine your income and expenses.
Hopefully, your income is greater than your expenses, and you have a positive differential. It’s positive because you have more income each month than you do expenses. This is the source from which we create your payment plan. If your income is say, $3,000 a month and your expenses total $2,000 a month. This means you have $1,000 a month to work with.
If your expenses exceed your income then you are living beyond your means and you have a negative differential. We help you turn that negative into a positive differential.
We use the positive differential to address paying off debts that you may have.
When debt is not in the picture, we deploy two types of savings strategies.
Saving strategy #1 is a monthly commitment to making gfc payments.
We will track and report gfc payments in your backoffice, so you always know exactly where you are in the savings process.
Saving strategy #2 is a commitment to making payments into a savings account at your bank.
Every so often we will ask that you provide bank statements showing the balance of your personal savings account. The balance should be increasing at about the same rate and amount as the gfc savings balance.
Together, these two savings strategies will get you where you need to be to qualify for a mortgage.
By the way, a positive by-product of this plan is that over-time you become conditioned to save your money.
After you complete the purchase of your home, we highly encourage you to continue saving money. We even offer advanced savings strategies for future purchases of vehicles, investment properties and retirement.
click here to read the gfc explanation.
Can I work with my own realtor and mortgage broker?
Question
Can I work with my own realtor or mortgage broker? One that is not part of your organization?
Answer
In most cases, working with an outside realtor or mortgage broker tends to complicate the process. Outside realtors or mortgage brokers are trained and paid by the companies they are tethered to. Their agenda rarely matches ours and for that reason alone, we typically do not allow them to work with our team.
Our program and all of its intricacies are foreign to them and would require time and energy to train them on our methods and strategies. If you are working with a realtor or mortgage broker and feel you can get the process done with them, then why are you coming to us for help? Pick one or the other. Us or them.
Can I work with my own realtor or mortgage broker? One that is not part of your organization?
Answer
In most cases, working with an outside realtor or mortgage broker tends to complicate the process. Outside realtors or mortgage brokers are trained and paid by the companies they are tethered to. Their agenda rarely matches ours and for that reason alone, we typically do not allow them to work with our team.
Our program and all of its intricacies are foreign to them and would require time and energy to train them on our methods and strategies. If you are working with a realtor or mortgage broker and feel you can get the process done with them, then why are you coming to us for help? Pick one or the other. Us or them.
Can i use my veteran administration certificate (va)?
Question
Can I use my Veteran Administration Certificate (VA) in this program?
Answer
In most cases YES, you could use your VA certificate with the lender. The VA certificate gives veterans the option to finance 100% of the purchase price, whereas a normal borrower would be required to bring a down payment.
As a veteran you also have the option to add closing costs to the loan, whereas normal borrowers do not.
For example, let's say you are purchasing a property that is valued at $100,000. With the VA loan, you would have a mortgage of approximately $105,000 if you had your closing costs added to the loan.
That means your mortgage payment is going to be higher.
On the other hand, if you completed our program and purchased the same home, you would have a mortgage for approximately $90,000 because of the funding benefits our program offers.
You will still be required to pay $7,500 into the gfc savings program, whereas the typical program participant is required to pay $10,000.
Can I use my Veteran Administration Certificate (VA) in this program?
Answer
In most cases YES, you could use your VA certificate with the lender. The VA certificate gives veterans the option to finance 100% of the purchase price, whereas a normal borrower would be required to bring a down payment.
As a veteran you also have the option to add closing costs to the loan, whereas normal borrowers do not.
For example, let's say you are purchasing a property that is valued at $100,000. With the VA loan, you would have a mortgage of approximately $105,000 if you had your closing costs added to the loan.
That means your mortgage payment is going to be higher.
On the other hand, if you completed our program and purchased the same home, you would have a mortgage for approximately $90,000 because of the funding benefits our program offers.
You will still be required to pay $7,500 into the gfc savings program, whereas the typical program participant is required to pay $10,000.
what happens to my money if i don't want to be in the program any longer?
Question
What happens to my money, if I decide that I just don't want to participate in the program any longer?
Answer
There are very few really good reasons why someone would want to exit the program. In most cases, it is because your personal situation changes and perhaps you find yourself facing some adversity that has you questioning your choices.
You may simply need to "pause" the consultations until you get past whatever adversity you are facing. The consultation system is driven by you.
The funds you pay into the gfc savings program are available to you upon completion of the program. That will never change. If it takes you an extra year or two to get through something and then continue the consultations, then so-be-it.
If your situation does change drastically and you fall into one of the rare categories where completing the program just is not applicable any longer, then here's how that will work.
Transfer your gfc Balance to a "designee"
We allow the transfer of your gfc balance to someone that we call a "designee". Specific paperwork must be completed documenting the transfer of ownership to the gfc savings balance to this designee. The new program participant who is taking your place in the program will have to complete the enrollment documentation and follow all the applicable steps required to complete the program the same as if you were continuing the program. The only difference with your designee is that they have the benefit of starting the program with a much higher gfc balance which could more-than-likely help them complete the program faster. Any payment arrangements relating to your gfc balance and the balance transfer must be handled between you and the designee privately without our involvement. We will not mediate between parties. Once your designee is enrolled and you've executed the documentation agreeing to it, we will only deal with the designee going forward.
Transportation Credit
You can use the balance of your gfc savings towards the purchase of vehicle(s). Notice that vehicles is plural, meaning it may take more than 1 or 2 vehicle purchases to account or reconcile your balances. Let's say the balance of your gfc is $4,000 at the time you decide to terminate your participation in the program. Let's say we have a vehicle that you like. The first step is to determine the retail value of that vehicle. It must be valued over $5,000. We will look at NADA, TrueCar and/or Carfax to see what they say the retail value of that vehicle is. We will take an average of these values to determine the final retail value. Let's say the vehicle you like is valued at $10,000. We would typically credit between $1,500 and $2,000 (+/-) off that retail value. In this case, you would end up purchasing that vehicle for around $8,000 or $8,500 not $10,000. We would reconcile the credit and reduce your gfc balance accordingly.
click here to read the gfc explanation.
What happens to my money, if I decide that I just don't want to participate in the program any longer?
Answer
There are very few really good reasons why someone would want to exit the program. In most cases, it is because your personal situation changes and perhaps you find yourself facing some adversity that has you questioning your choices.
You may simply need to "pause" the consultations until you get past whatever adversity you are facing. The consultation system is driven by you.
The funds you pay into the gfc savings program are available to you upon completion of the program. That will never change. If it takes you an extra year or two to get through something and then continue the consultations, then so-be-it.
If your situation does change drastically and you fall into one of the rare categories where completing the program just is not applicable any longer, then here's how that will work.
Transfer your gfc Balance to a "designee"
We allow the transfer of your gfc balance to someone that we call a "designee". Specific paperwork must be completed documenting the transfer of ownership to the gfc savings balance to this designee. The new program participant who is taking your place in the program will have to complete the enrollment documentation and follow all the applicable steps required to complete the program the same as if you were continuing the program. The only difference with your designee is that they have the benefit of starting the program with a much higher gfc balance which could more-than-likely help them complete the program faster. Any payment arrangements relating to your gfc balance and the balance transfer must be handled between you and the designee privately without our involvement. We will not mediate between parties. Once your designee is enrolled and you've executed the documentation agreeing to it, we will only deal with the designee going forward.
Transportation Credit
You can use the balance of your gfc savings towards the purchase of vehicle(s). Notice that vehicles is plural, meaning it may take more than 1 or 2 vehicle purchases to account or reconcile your balances. Let's say the balance of your gfc is $4,000 at the time you decide to terminate your participation in the program. Let's say we have a vehicle that you like. The first step is to determine the retail value of that vehicle. It must be valued over $5,000. We will look at NADA, TrueCar and/or Carfax to see what they say the retail value of that vehicle is. We will take an average of these values to determine the final retail value. Let's say the vehicle you like is valued at $10,000. We would typically credit between $1,500 and $2,000 (+/-) off that retail value. In this case, you would end up purchasing that vehicle for around $8,000 or $8,500 not $10,000. We would reconcile the credit and reduce your gfc balance accordingly.
click here to read the gfc explanation.
can i start the program with more than $500?
Question
Can I pay more than $500 into the gfc savings program and enroll?
Answer
The enrollment gfc or egfc amount can be no more and no less than $500. It has to be this amount because it represents enough of a starting commitment to get the consultations going. We do not allow any more than $500 because we want to complete the budget with you first. You may have more than $500 but we do not have enough information about your situation to advise you on how to account for any additional money you may have. You could have debt issues that we need to address or other higher priority expenses that may need to be considered.
Can I pay more than $500 into the gfc savings program and enroll?
Answer
The enrollment gfc or egfc amount can be no more and no less than $500. It has to be this amount because it represents enough of a starting commitment to get the consultations going. We do not allow any more than $500 because we want to complete the budget with you first. You may have more than $500 but we do not have enough information about your situation to advise you on how to account for any additional money you may have. You could have debt issues that we need to address or other higher priority expenses that may need to be considered.