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What are the advantages and disadvantages of rent-to-own homes?

Public Comments

1. The advantage is that it may allow buyers who have not behaved in fiscally prudent manner (bankruptcy, foreclosure, lousy credit, no savings, no down payment, short job history) to buy a home when conventional avenues would not be open to them. The disadvantage to seller is that the deal is not DONE at closing, they are still tied to house and new buyers, for years. The advantage is that it allows buyers who have not saved up a down payment, to do forced savings, building up their down payment, setting aside a portion of their rent as down payment. The advantage is that it allows buyers time to get their act together financially, but to actually occupy the home NOW.