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Home Ownership Program Terms and Conditions

This agreement is between SCI, LLC (doing business as Home Sweet Home, hereinafter referred to as “HSH”) with the mailing address of:

8224 Manchester Rd.  Suite 102, St. Louis, MO 63144

and

“client”).

In consideration of client paying at least a deposit of $100, the client shall become enrolled in the Home Ownership Program.

Program Mission.  To assist Client with securing housing via the following options (or mix thereof): securing a traditional home loan through a fully accredited bank or mortgage lender; private loan financing; rent-to-own; lease purchase or lease.

Payment Status, Work Status, Length of Time for Services.  So long as the client makes payments on a punctual basis, HSH staff shall resume work on the client’s case file.  However, if payments stop (temporarily or permanently) HSH shall halt all work on the client’s case file until such time client has brought payments current and/or has paid the HSH agreed upon rate in full.  In the event the client needs more than 12 months of service, then payments shall resume on a monthly or annual, mutually agreed upon rate.

Partial Services Offered.  In the event Client has paid for solely for credit assistance only or solely for housing assistance , then only those portions of this agreement shall apply as pertaining to HSH duties enumerated under this agreement..

HSH Duties Enumerated.  The duties of Home Sweet Home (with the aid and assistance of Client) shall be as follows:

Loan Officer and Real Estate Agent Appointment.  Clients may secure the aid of a Loan Officer and real estate agent for the purposes of preparing for loan qualification and for locating affordable housing.  Loan officer duties will be centered on advising Client how to best qualify for a specific type of loan that best fits the needs and limitations of the Client.  Real estate agent duties include consulting on finding and making offers on properties and the best way to address various issues associated with securing a property under contract.   The loan officer or real estate agent must be willing and able to work with HSH and our program.  HSH reserves the right to approve or disapprove the use of any loan officer or real estate agent.  HSH will be responsible for selecting a loan officer or real estate agent unless the Client prefers to use another loan officer or real estate agent (provided said loan officer or real estate agent is approved by HSH.  

Communication.  It is critically important that Client returns all messages to HSH, their assigned loan officer and real estate agent in as timely a manner as is possible.  Failure to return messages may disqualify a Client from receiving any further assistance about finding housing prior to getting home loan financing.

“2nd Chance” for Clients.  Upon the Clients choice, HSH shall coordinate housing placement with a qualified real estate agent to place Client in a rental, lease option, or lease purchase (“rent-to-own”) arrangements.  This gives the Client a “2nd chance” to demonstrate to HSH that clients can “pay-on-time” for 12 months and build a good payment history prior to converting to a purchase agreement or applying for a home loan.  ALL PAYMENTS MUST BE MADE ON TIME FOR 12-24 CONSECUTIVE MONTHS WITHOUT EXCEPTION.  OTHERWISE, THE TIME FRAME FOR QUALIFICATION RESTARTS THE 12-24 MONTH TIME PERIOD.  CLIENTS WHO ARE EVICTED (DURING OR PRIOR TO THIS PROCESS) MAY NOT QUALIFY FOR ANY TYPE OF RENTAL OR PERSONAL FINANCING UNDER THIS PROGRAM. CERTAIN EXCEPTIONS MAY APPLY.

HSH Assists Clients with Housing Search.  HSH shall assist Client in finding housing.  Whether the Client finds housing, the real estate agent or HSH, this action does not matter so long as housing is located by either the Client, HSH or the real estate agent.  HSH (and/or the real estate agent) will also enroll clients for continued automated emailing of home listings on a regular basis using any one of the reputable housing websites on the internet.

Rent-to-Own or Rental.  HSH shall assist Client and real estate agent with finding housing that works on a rent-to-own or rental basis.  In this way, rental credits can be used to finance the down payment.  Otherwise, the client may need to find a home on a rental or rent option basis.  After the rental period has ended, Client must either find another home for sale or rent depending upon whether the client is ready to qualify for a home loan with qualifying credit and/or on-time rental payments.

Rental Credits, Down Payment, Down/Rental Payment Assistance. If a rent-to-own home is able to be located and placed under contract by Client, HSH and the agent will try to incorporate a large portion of the rent payment (called “rent credit”) to be applied toward purchasing the home as a method to help finance the down payment.  Additionally, the move-in costs for the rental may be able to also be applied as down payment funds to help assist in funding any contractually required down payment.  Additionally, the Client is solely responsible for providing all down payment or move-in costs for any property chosen.  Clients are also encouraged to read the Down Payment/Rental Assistance materials provided as well as the fundraising techniques suggested therein. In the case where the client is represented by a loan officer or agent, the Client must coordinate their search for housing with the loan officer and/or real estate agent. 600 FICO SCORES ON ALL THREE CLIENT CREDIT REPORTS ARE REQUIRED). If the client is working with a loan officer or real estate agent while enrolled in the Home Ownership Program, then the client agrees to coordinate all efforts and housing needs with same.

Clients to Receive Housing Information and Advice.  Clients shall receive information on down payment and rental assistance; rent-to-own homes and any other information useful for obtaining housing.

Credit Guidance.  HSH representatives will advise applicants on how to clear inaccurate and obsolete information from their credit report.  Additionally, HSH shall explain how to deal with accurate derogatory information and how to take the right steps to address those issues.  If assistance is needed in special cases, HSH will advise clients on completing any other special paperwork to address issues such as identity theft or forgery.

Re-establishing Credit.  HSH will assist clients with attaining 3 credit cards WHICH MUST BE PAID ON-TIME.  Credit cards may be secured or unsecured or both.  Client is solely responsible to fund the security deposit of any card selected which required a deposit to be made.  Client is advised to avoid having balances greater than 30% of the credit line (which is key to improving credit scores).

Clients to Receive Special Report on Credit management, Credit Restoration and Credit Re-establishment.  Clients shall be guided, advised and educated with regard to personal information and derogatory credit accounts contained on Client credit reports.  Issues deal with disputation of derogatory credit (accurate or inaccurate), re-establishing credit and making settlement agreements which include language to erase settled debts on the credit reports.

House Listings.  Client shall be set up on recurring listings of homes for rent, rent-to-own and rent option by both HSH and the appointed real estate agent.  Client’s assistance to HSH will be required to complete this process.

Free Credit Monitoring.  Client shall be advised (and assisted) with enrollment in credit monitoring for the purposes of addressing credit issues and challenges in as timely a manner as possible.

ID Theft Protection (Optional).  Clients could have their identity stolen and are highly advised to enroll for identity theft protection in order to shield themselves from future damage to client’s hard earned good credit.  HSH shall advise Client of program details.  

Legal Shield Plan (Optional).  Under this plan, applicants can enroll and have leases and real estate contracts reviewed.  Attorney letters may also be sent to help resolve legal issues, disputes and credit issues.  And much more.  Home Sweet Home shall advise Client of program details.

Guarantee Policy.  Although Home Sweet Home is not a credit repair organization as defined under the Credit Repair Organizations Act, it is important to understand there are no guarantees involved with real estate, credit repair, or legal services.  For example, in matters of law, an attorney could never guarantee a client a judge or jury will rule in their client’s favor.  Likewise, no lender or real estate agent can legally guarantee a client a loan approval or acceptance of a housing contract.  Offering such a guarantee would be highly unethical.  Therefore, Home Sweet Home cannot offer a guarantee (implied or express) of success as there are too many variables outside the control of Home Sweet Home.  Individual results vary from case-to-case depending on employment, income, health and several other extraneous factors.

Credit Guarantee Policy. In addition, any credit repair company that guarantees success is not being honest.  It is important to be wary of any credit repair company that guarantees “good credit in 30-60-90 or even 120 days” or promises to “raise your credit score by such-and-such amount”.  Not only is it unethical (but also illegal) to guarantee results for credit repair.  Furthermore, it is also impossible to predict the actions of your creditors or the credit bureaus.

Cancellation Policy.  If a client decides to cancel, the client may do so by submitting a written statement of cancellation in order to discontinue the Home Ownership Program installment plan.  Cancellation of the Home Ownership Program after services are rendered, full or in part, may be eligible to a refund pursuant to the “Refund-Money Money Back Guarantee Policy ”.  Any unwarranted attempts to a refund shall be rejected by Home Sweet Home management. Home Sweet Home does not offer its services for free.

Refund-Money Back Guarantee Policy.  HSH does offer a Refund-Money Back Guarantee in the event where no improvement in credit has occurred with regard to the client’s credit within 6 months.  “Improvement” is defined as the deletion of obsolete personal information; deletion of derogatory financial information; the establishment of new lines of credit (such as credit card accounts); and/or the positive increase in any of the 3 credit scores.  Derogatory information added to a client’s credit report (after the client is enrolled) is the responsibility of the client and is not an eligible reason for a refund. Also, if a customer does not follow our instructions or answer HSH staff questions in order to move forward and make progress on their file, then they are not eligible for a refund.  

Time is of the Essence.  Client must perform all tasks mandated by all interested parties by such time as is expected under the provisions of the Home Ownership Program.

Binding Arbitration.  Any controversy or claim arising out of or relating to this contract, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules. The number of arbitrators shall be one. The place of arbitration shall be Saint Louis, Missouri. Missouri law shall apply. Judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

Severability.  If any portion of this contract shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this contract is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written, construed and enforced as so limited.

Binding Effect. The covenants and conditions herein contained shall apply to and bind the heirs, legal representatives, and assigns of the parties hereto, and all covenants are to be construed as conditions of this agreement.

Governing Law.  This agreement shall be governed by the laws of the state of Missouri.