The Lease – Buyback Process

Spartan Financial, LLC goal is to relieve homeowners of excessive mortgage debt and keep them in their homes with an affordable lease and a favorable option to repurchase.

This is a solution to the foreclosure crisis that is destroying our country.  It keeps people in their homes, doesn’t cost taxpayers a dime, and actually makes the banks more money than were they to foreclose on the property.

Step 1 – Apply
Fill out a short online application to determine what programs you are eligible for. You will have to sign the necessary documents and furnish documentation as required to proceed.  You can cancel at anytime with no cost or obligation.

Step 2- Spartan Financial, LLC negotiates your Note Purchase or Short Sale
We will negotiate with participating lenders to approve the best possible short sale/short payoff.

Step 3 – Home Inspection
Once an acceptable note purchase or short sale price is established, a home inspection will be ordered through a local inspection firm. This report will identify any needed repairs as well as the condition of your home. Funds for necessary repairs will be included in the acquisition price and completed within 60 days of the home acquisition.

Step 4 – Sale of Your Home to Spartan Financial, LLC
Once the note purchase or short sale is approved by your lender and you agree to the final terms, Spartan Financial, LLC will purchase your home at the negotiated price.

Step 5 – Stay in Your Home
You will now lease your home and attend financial counseling to prepare to repurchase. If significant repairs become necessary during the lease period, they will be completed. However, the cost of any repairs paid by Spartan Financial, LLC will be added to the option price.

Step 6 – Buy Back Your Home
Your financial counselor can link you to an affordable mortgage program in order to repurchase the home. Once your mortgage application is approved, you can repurchase. If you decide to move for any reason, your home will be listed for sale. At the closing, you will split net seller proceeds over the option price with Spartan Financial, LLC.