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Volume 2014 - Number 3

January 31, 2014

Lender Offering Unique Rent-to-Own Program

Cove Financial is targeting borrowers who can’t qualify for agency mortgages and offering them a unique rent-to-own option. The lender’s Mortgage Alternative Program involves a process that looks a lot like the purchase-mortgage process but instead gives a borrower time to rebuild credit before purchasing a home. “It’s for people who have a downpayment but don’t currently qualify for a mortgage,” Patrick Flanagan, CEO of Cove Financial, said of the MAP. A borrower working with Cove goes through a ...

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