According to S&P/Case Shiller’s national index, home prices have seen more than a very significant drop in less than one year. Now cited as the sharpest drop in the indexes history. Economists predict home purchase prices will continue to drop another 10% before bottoming out in 2009.
Individuals who are receiving payments from an annuity, lottery winning, personal injury, or structured settlement are capitalizing on the new found ability to acquire a home using a large cash down payment received from the sale of their future payments.
“We never thought we would be able to afford to buy a home here in Florida, they were so expensive and we didn’t have enough money saved to for a down payment to get a loan. I was working full time and he had a part time job. When we sold his payments, we were able to give the bank almost 40% of the purchase price, and our monthly mortgage is now less than what we were paying in renting.”
-Linda Tandy, FL (Woodbridge Investments Customer)
The aggressive competition between companies like Woodbridge Investments, JG Wentworth, and Peachtree Funding who buy settlement and annuity payments has made it a seller’s market. Individuals can obtain multiple quotes and find out just how much their future payments are worth. Many will even offer a guarantee to meet or beat any other written offer.
The basics in obtaining a appraisal or quote are simple, easy, and free.
You will need to provide the company with three key pieces of information.
- How much are your payments
- How often do you receive you payments
- How many payments do you have left
You will typically receive your money via wire transfer within 90-120 days, after you have signed a contract agreeing to sell your payments. Be wary of any company who pressures you or tries to convince you to sell all of your payments.
You do NOT have to sell all of your payments.
How many payments you choose to sell will depend on the value of the payments, and what your financial needs are.
If you are considering using your funds to buy a home, and your credit is a little less than spectacular, you may want to consider speaking to a financial advisor or credit counselor.
There are thousands of non-for profit organizations that can provide credit and debt relief counseling to you at no charge. Paying off delinquent or outstanding accounts will not only give you peace of mind, it will help to rebuild your credit, allowing you to take advantage of reduced interest rates, and special financing offers.
Owning a home can provide many tax relief benefits not available to renters. You will build equity in something that you own, and later can be used as collateral for various things such as car loans, or college tuition. Perhaps you have considered starting a small business. Showing that you have been able to make timely mortgage payments will increase your credit scores, and open the doors to financing these dreams making them a reality.
Laws enacted by Congress in the early nineties protect your right to sell your future payments from a settlement, annuity, or lottery allowing you to get the large lump sum of cash you need now.
Before your transaction is complete, a court will review the terms, and make sure that the sale of your payments will not negatively impact or adversely affect your current needs necessary to your livelihood.
To learn more about how you can sell annuity, lottery, personal injury, or structured settlement payments for cash now call toll free 1-866-865-7044 today!
