RentToOwn-HouseFinder.com - Does anyone know anything about rent to own, lease to own or rent with option to own??

Does anyone know anything about rent to own, lease to own or rent with option to own??

Even the basics would be helpful.

28 YEARS AGO I LEASED THIS HOME WITH OPTION TO BUY AND A YEAR LATER I BOUGHT IT AND AM STILL HERE.
go to the site below
Rent/Lease to own are the same thing but rent with option is slightly different since the expectation is less that you will buy. I wouldn't think of doing this unless you have a real estate attorney. Basically, you pay rent and part of the money at the end of the rental term is applied against the agreed upon purchase price. This includes an upfront option fee and premium for the rent. Remember that you don't own the home during this period and the owner can renege on the deal. The owner then finances you or you get separate financing. I have seen deals where the interest charged was 11% or more by the owner and no accountability of funds is given at the end of the year. You have to be either very careful or very desperate to do this. It works for people who have no down payment and find a seller who cannot otherwise sell their home.
anymore most all those deals are a scam of some format. Too many reselling houses they do not really own when the bank forecloses on the original mortgage your out on the street with nothing. Read this article and make sure you seek an attorney to protect yourself before signing anything http://repupil.com/posts/category/real-estate-scams/