Understanding Rent to Buy

by Paul 19. May 2008

The repossession crisis in American has sent shockwaves throughout the world's stock and property markets. Never have so many Americans been evicted from their homes. However, there is an upside for those looking at purchasing. All those repossessed properties have since been listed by the banks and are currently selling for a fraction of the price they were previously sold for. In other words- now is an excellent time to buy however, are you prepared? Many lending institutions have since tightened their lending practices and are demanding 20% deposit before letting anyone have a shot at being able to own their home. Have you got your 20%? If not, don't worry. Rent to Own (also called Rent to Buy) is a way that we can get you into your own home with a low deposit. This type of home financing has been around for years in the United States however it has been a bit slow integrating here.

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Tags: rent to own, rent to buy, no deposit, foreclosure, bankruptcy, bank loan

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