The posting for this rental is stating that the owner is in default on their loan & the home is in foreclosure, but they want ONLY to do a Lease to Own with you, with no credit check.
What this means to you, is you'll put up more than just a 1st mo rent payment & security deposit, likely also "option money" for the lease option. The owner is in default, so they're not paying the bank.
The owner can sign any darn thing with you, collect your money & NOT pay the bank. The home gets foreclosed on & you lose.
If you're interested in renting in this area, I'd be happy to send you rental listings where the owner is SECURE with his/her property & has equity & isn't in default on their mortgage.
Please email me directly & let me know if you'd like some assistance. I won't look back on this same Trulia posting for new answers.
Realtor Since 1996
Main Street Realtors