Company explores new pathway to homeownership

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MILWAUKEE- Currently, homeownership is all the buzz, especially in a hot market like Milwaukee. But for some, the process of owning a home comes with roadblocks, and one company is finding ways to remove them.

Carl Quindel, owner of Strong Blocks, a rent-to-own company is demonstrating new ways to get people into homes. 

Urban Milwaukee reports

Quindel was the executive director of ACTS Housing, a real estate brokerage firm that helps families purchase homes, from 2007 to 2015. It was there that he realized city residents needed other options for getting into a home.

He said ACTS was seeing about 2,000 people a year and getting only 100 to 150 into a house. Upon further review of these families, he concluded that their credit rating was often a problem and that “250 families a year could benefit from six to 18 months to work on their credit to get a mortgage from the banks.”

Someone that goes through Quindel’s company will have the right to purchase the home they are renting, and can either put down a lump sum of cash or use portions of their rent for a future down payment on the home.

Michael Williams, a CNC machinist at Snap-On Tools, was Strong Blocks first success story. He says he became interested in owning his own home a few years ago, but didn’t have the credit or cash to put down on a mortgage.

For more, visit Urban Milwaukee.com.