Asset Allies, an innovative Connecticut real estate business, is leading the charge to save the economy one house at a time. By purchasing “unsellable” homes that would otherwise be destined for foreclosure, Asset Allies is providing an alternative that saves both homeowners and financial institutions alike.
Unlike traditional home sales, Asset Allies takes over the homeowners’ obligations and helps them to sell for more. This includes the mortgage to the bank, unpaid taxes, liens, and more. Because of this, banks continue to receive money via their institution, allowing them to lend more money to consumers.
Unpaid mortgages have a detrimental effect on an economy. When individuals are no longer able to keep up on their mortgage, the bank and other financial institutions lose money, leading to a decrease in the amount of money available to lend. This can have a snowball effect as people have less money with which to buy homes, cars, and more. Moreover, when unpaid mortgages are combined with other economic issues, such as declining property values and tax revenue, it can further strain the economy.
First, they can frighten other borrowers by making them more cautious about taking on new debt. Many may be scared of being left with a loan they cannot afford. Additionally, unpaid mortgages can scare lenders, making them less likely to lend money or offer financing, which limits access to capital and limits economic growth.
When houses sit vacant and unused, local municipalities miss out on revenue in the form of property taxes. This hurts the economy of the local area, as the lost revenue reduces funds that are available to invest in public services and infrastructure.
Furthermore, vacant and unused properties can cause safety hazards, create eyesores, reduce property values, and have a negative impact on quality of life for those in the community. In the worst cases, an entire neighborhood may become blighted due to the neglect of a few properties. As a result, it is in everyone’s best interest to keep houses occupied and taxes paid.
Asset Allies creates opportunities for home ownership without the banks. Through a rent-to-own program, people who are self-employed or have bad credit can take the first step towards becoming a homeowner. With their non-conventional approach, Asset Allies also helps to prevent houses from being unoccupied and unused for long periods of time.
As a result of this creative business model, Asset Allies is creating economic opportunities and a more stable housing market. By helping to reduce foreclosure and finding innovative solutions to home ownership, Asset Allies is making a real change in the Connecticut economy.
Asset Allies’ model helps to prevent foreclosures by reducing the amount of unsellable properties on the market and providing an alternative for people who are having difficulties selling their home for a profit. Additionally, Asset Allies is like a bank in the sense that it provides money to people who are unable to get financing or have been denied a loan from traditional financial institutions in order to purchase a home, through its rent-to-own program. Asset Allies offers various loan packages and payment terms to buyers, who may have bad credit or are self-employed.
Moreover, both banks and homeowners greatly benefit through Asset Allies contribution, bringing in more revenue to the economy by ensuring payment of taxes, mortgages, and other related fees to creditors. By giving people a chance to purchase a home without going through a traditional bank, Asset Allies is helping to make the economy more equitable and accessible.