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Anyone out there doing a lease-purchase on their home?

My husband and I are considering getting into a lease-purchase to buy the house we're currently renting and I was curious if anyone else was doing this and what they think of it. Any suggestions are appreciated! Thanks!

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Asked by stepmom929 at 6:59 PM on Apr. 16, 2009 in Money & Work

Level 12 (920 Credits)
Answers (1)
  • My neighbor is/was doing this.... She just told me that she has been making payments to the original/real owner and she just found out that they haven't been paying the mortgage and now the house is being foreclosed on. I don't know what kind of protection she could possibly have because she didn't have her own mortgage for the house. So she doesn't know what she's going to do now, she's out all the money she paid AND she gave them a pretty big down payment.

    Answer by slw123 at 8:45 PM on Apr. 16, 2009

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