I have bad credit and I don't make a lot of money, I need to move out of my living situation. How do the rent to own programs work and can I?

Asked by Debbie, 08075 Fri Jul 22, 2011


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allan erps,A…, Agent, Pearl River, NY
Sat Jul 23, 2011
To be honest, forget about owning right now if your income is not warranted(unless you have money put away). Try to find the most inexpensive rental you can and save, save, save as well as working on your credit score. Best of Luck!
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Robert Green…, Agent, Cherry Hill, NJ
Sat Jul 23, 2011
Hi Debbie. Rent-to-Own programs will vary from property to property. Essentially, most programs are a 1-2 year rental with a pre-determined future purchase price(s). The owner of the property typically requires a down payment, referred to as "option money". The term comes from the concept of "Lease-Option"; Lease the property with an Option to buy it in the future. I welcome your phone call to learn more.
-Robert Greenblatt
Keller Williams Realty, Cherry Hill
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