Call Us: 1 (310) 714 1317

Making a Comeback

calculating

Rent-to-Own, renting a home, usually single family, with the option to purchase it at a later date appears to be making a comeback. This was a popular option, especially for the credit challenged, in the 1990s until the subprime boom replaced it with the no money down trend. And now it’s returning as lenders continue to make it challenging for many to obtain a mortgage loan. For the consumer (home buyer), rent-to-own allows him/her the time needed to repair and build their credit, while saving for the down payment. For investors this is a win-win situation, charging premium rent, and should the tenants decide not to purchase the property, investors are still able to continue collecting rent. Of course, this is not for everyone, but it is worthy of further consideration.

Source: “Rent-to-Own Homes Make a Comeback” Wall Street Journal (July 28, 2015).

Leave A Comment

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Testimonials

“Novelette was very knowledgeable about the property and the area.  I felt that she was straight-forward about the negative or down-side of aspects of her work. After closing, Novelette asked for feedback on her services and seemed sincere in wanting to improve the negative. She also recommended service people for electrical, plumbing and carpentry, as I mentioned the changes and improvements that I anticipated to make the house "mine’.”

Judith L.

Follow me on Twitter

%d bloggers like this: