In your area of Madison Heights there are over 20 homes with lease option as of 08/05/2010.
As a Michigan licensed real estate professional I am frequently work with families who buy a home with lease option.
Buying a home with a lease option does involve an application process.
References will be verified.
Your source of income will be confirmed. Your current housing record will be checked for the last 2 years.
For a list of homes available with lease option in SE Michigan, contact:
Cell (248) 931-0084
REAL ESTATE AND FINANCE IN ONE
34 S. Telegraph Rd
Waterford, MI 48328
Office (248) 886-0000
Yes, there are some sellers that are willing to do a lease option or rent to own. If you like I can check to see what is available at this time. You will have to show proof of employment and a credit report and probably have a decent down payment. Since you didn't state in your question what you are looking to spend or whare you are looking, you can contact email me direct with more of what you are looking for.
Pam Bava, Realtor
Real Living Kee Realty
Hope that helps.