Course Details

Trouble selling redeveloped houses? Have credit challenged buyers who want to purchase now? In the current housing market it is becoming increasingly difficult for many in our communities to become homeowners, leaving families with a dream unfulfilled and community development corporations with units that aren't selling. Lease purchase programs are a way to expand your reach to meet the needs of underserved communities and serve families seeking home ownership who need some time to correct their credit history.

Learn how to develop an effective lease purchase program tailored to the needs of your community and avoid the pitfalls that have undermined nonprofits in the past.

Using a combination of lectures, discussion and exercises, this course introduces participants to best practice lease purchase models that incorporate: carefully determined time-periods and terms of a lease-purchase contract, an affordable sale price, pre-determined level of risk in underwriting potential lease-purchasers, incentives for final purchase, exit strategy for non-complying lease-purchasers, intensive use of homeownership counseling, property management and specially-tailored financing.

Course Length: 1 Days

Tuition: $385.0

Course counts toward a professional certificate (PCP): No