Tampa, FL -- (SBWire) -- 07/11/2011 --“Owner Will Carry” ads are not new anymore and with more and more people leasing and selling their homes, owner financing schemes are fast becoming the most preferred scheme for most homebuyers who can’t afford to purchase homes with huge down payments or those who are denied of huge mortgage because of low credit scores. RentUntilYouOwn.Com, the world’s premier site for rent to own homes discusses the many benefits of owner financing schemes.

Owner Financing Defined:
Owner financing takes place when the homeowner or seller of the home finances the entire mortgage or a part of it of the property that he or she is selling. In effect, the owner of the property being sold will take two roles: as a bank who will finance the property [in part or as a whole] and as a seller. While this set-up may sound very ideal, a lot of homeowners are offering their rent to own houses under the owner financing because of several benefits, including:

Increase of Potential Sale:
As previously mentioned, owner financing is very attractive to home buyers because when the homeowner finances even a portion of the sale, the buyer will only have to apply for a smaller amount of loan from a lending entity. On the other hand, if the homeowner finances the entire loan, then there’s practically no need to apply for a new loan or mortgage.

Additional Monthly Income:
Since the owner is the one who collects the payment for the mortgage—which also the include the interest—then the property owner receives a monthly income just like any lending institution would. As a result, the amount that the homeowner receives from the mortgage increases the entire price of the home sale.

Safeguards Against Unpaid Mortgage:
Home owners who are offering owner financing scheme can seek the help of a bank via escrow account to ensure that the buyer will pay their monthly obligation. To protect the sale, the home owner may ask for a quit-claim deed into the escrow account where it can be clearly stated that when payment is overdue or when the buyer does not fulfil his or her obligations, then quit-claim deed will be file automatically and the home will be restored to the homeowner. All the payments made by the buyer will be lost as well as the property in question.

Needless to say, owner financing scheme does put both the homeowner and buyer at different vantage points where both parties can benefit from the scheme. The seller of the house gains additional income and yet secures the entire sale of the property while the buyer does not need to worry about huge down payments or qualification for huge loans just to afford a home. As Rent Until You Own.Com puts it, “owner financing schemes gives both seller and buyers security to the property being sold and bought.” Anyone who is interested in purchasing homes via owner financing schemes can check out http://rentuntilyouown.com for a complete listing of rent to own homes across the United States that are offered under owner financing schemes.