Superior Development Group, Inc. Announces New Lease Purchase Housing Program to Help Consumers Avoid Using A Struggling Subprime Mortgage Lending Market.CLARKSDALE, Miss. -- Superior Development Group, Inc., (Pink Sheets: SDVG) Superior Development or the Company, a residential real estate development company announced today that it is launching a Lease Purchase program designed and aimed to help replace an unforgiving struggling subprime lending  This article or section may deal primarily with the U.S. and may not present a worldwide view. market and also help stimulate a sagging
housing market.
Derrick D. Neal, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Superior Development commented that "The Lease Purchase program will become a very popular way to sell or buy a house because of the meltdown meltdown Occurrence in which a huge amount of thermal energy and radiation is released as a result of an uncontrolled chain reaction in a nuclear power reactor. The chain reaction that occurs in the reactor's core must be carefully regulated by control rods, which absorb in the subprime mortgage lending market, which is causing the housing market to struggle as well." The Lease Purchase program allows consumers to lease and occupy the home while having a contract to purchase the property for a set amount at a predetermined pre·de·ter·mine v. pre·de·ter·mined, pre·de·ter·min·ing, pre·de·ter·mines v.tr. 1. To determine, decide, or establish in advance: time in the future. Mr. Neal also said that, "The benefits of the Lease Purchase program for consumers are tremendous," and some these benefits include: * Minimum cash may be required up front. Sometimes buyers with credit problems will benefit from this purchase method, this method affords consumers time to repair less-than-stellar credit before purchasing a home. * Home buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. is increased, by giving consumers the ability to purchase using this alternative method. * Consumers have faster equity growth than renting and than with conventional financing. Some of the rental or option money is working towards the purchase. A lower down payment at closing since consumers will have option money or rental credits to apply. By the time a consumer purchase, prices may have appreciated beyond the locked-in price, giving consumers additional equity when they eventually buy or sell. * With a lease purchase, consumers may skip paying closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, , traditional down payment and other fees normally found in a purchase using conventional mortgages. * With a lease purchase, our consumers will have no taxes or property insurance to pay while lease-purchasing the home, which allows them to buy a larger home. Mr. Neal also commented that, "The Lease Purchase program is right in line with our affordable housing plans and the Company should see significant results once the program is fully implemented." Additional information about Superior Development Group, Inc. is available online at http://www.superiordevelopmentgroup.com Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. This press release contains or may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's public filings. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive Having reference to things that happened in the past, prior to the occurrence of the act in question. A retroactive or retrospective law is one that takes away or impairs vested rights acquired under existing laws, creates new obligations, imposes new duties, or attaches a effect. |
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