Welcome to Home Owner Soon

Our Mission Statement is to help a family to home ownership, one house at a time. Home Owner Soon is Canada’s premier lease purchase program established in 2006 and presently transacted on more than 200 homes across Canada and growing.  We are now sourced by leading Mortgage Agents across Canada in every major lending area searching for a financial solution to clients currently declined due to credit issues.  With sub prime lenders closing its doors, and bank lenders tightening up lending guidelines, this situation has left many Canadians with little to no options other than pay high double digit interest rates and broker fees from Private lenders, only to eventually lose their home in a Power of Sale a year later when they can’t get away from the Private.

Our strength is in our Re-finance Buy Back program where your client could be potentially in a sub-prime mortgage that is not being renewed once the term has matured.  These are what we call “orphaned mortgages”, we have an excellent solution to this issue.  Our brilliant program allows the payout of current mortgage lenders, pay off existing revolving debt, collections and even consumer proposal allowing the family the dignity of staying in their home without experiencing a full blown eviction.  If the home is not high ratio mortgage insured, and the home has dropped in value due to a market correction, our legal team are known to negotiate a rollback with the mortgage lenders so this transaction can take place and we can save the home (some conditions apply).  We have discovered if the home is aged and dated, many times families do not invest into the maintenance of the home if they are defaulting on their mortgage, our program allows us to use the equity to correct some of the issue such as roof, windows, kitchens and baths allowing them to create a better living environment where they can be happy as well as appreciating the value of the home.  Since we are providing a debt payment solution, the debt councilors and consultant view our program quite important since debt elimination allows them to collect their fee and establish credibility with lenders.  We find many Mortgage Agents would network a group of debt councilors as a referral source.

Another strength in our creative credit solution is our New Purchase Program.  I am sure every Mortgage Agent in the past has received an application with strong income and employment only to find the beacon score was less than desirable and the smile melts away when you realize you cannot place this file with any lender, you now have an option.

We are seeing an increase of Business For Self “BFS” applicants, these are people that are self employed and has not declared the essential income in order to qualify for any financing.  In many cases due to cash flow issues, the beacons scores do not meet the lenders guidelines for BFS with whatever programs are left with a small number of lenders.