RentToOwn-HouseFinder.com
how does rent to own homes work and is it a good or bad thing?
wanting to look into the rent to own thing - as ive got crap credit and need to clean it up - but wondering if anyone else has done this and how did it work for them?
Public Comments
- Now is a bad time to do it. Your credit may not improve enough by the time you save a down payment, your option could expire before you can buy and you would lose your payments towards the house. The reason to do a rent with option is when prices are rising faster than you can save and you need another few months to save your down payment it locks in the house price. Locking in on the way down or when prices are flat isn't worth the cost.
- It can be a good thing, but there are so many scams out there now, you have to be extremely careful. In most situations, if your credit is crap, no legitimate seller will do rent to own at this time.
