RentToOwn-HouseFinder.com
can anyone please explain equity share/ rent to own houses? is it a scam?
its actually no downpayment deal with a contract of two years. you pay monthly way less than rent, then they give you option after two years either to purchase it or just walk away from it without any penalty.
Public Comments
- Please be very careful with rent to own deals. Most of these will take all of the money you put down if you are late with one payment. The goal is to get your money without you ever getting to own the house. It is better to either rent or buy straight out. Contact a company that rents houses. They may have an owner who wants to sell theirs. If you are renting it they will give you first option.
- we had 20 'lease/rent to own' contracts over the years. ONE out of 20 completed the terms and even they went into forclosure in 5yrs. get 'house buying for dummies' read/understand. visit daveramsey.com to learn ur hard lessons from others mistakes. keep renting cheap until u save and learn enough about money to buy a house.
