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rent to own what is it and is it worth it?? thanks!

we are living in an apartment complex in a trailer park...with two bedrooms and one bathroom. we pay 600 dollars a month with everything except cable and phone.... we are looking to find a house either to buy or rent... im not sure how our credits are.. probably poor.. i dont think i can get another loan because i already have three loans. theres a house that is rent to own for 1010.00 a month....
four bedrooms and one bathroom....
im not sure how rent to own works and think its worth it?
Im dying to get a house with more bedrooms and a yard....

i think my question is... how does it work rent to own.. i already googled it.. but i dont realllly understand... does it mean that the seller can rent as long as she wants until she decide to sell it???

thanks!

Answer Question
 
tiggerneeyore

Asked by tiggerneeyore at 3:27 PM on May. 6, 2009 in Home & Garden

Level 1 (0 Credits)
Answers (3)
  • im not sure what it is in ur state but we are going thru the usda for a home loan. go to usda rural development google it that should help you.
    lienna

    Answer by lienna at 4:39 PM on May. 6, 2009

  • thanks lienna!
    tiggerneeyore

    Answer by tiggerneeyore at 4:50 PM on May. 6, 2009

  • Its usually called a lease purchase. This means that you agree to pay such and such amount. If you decide you want to move, you can, OR you can decide to purchase at which that point, either part or all of the money you have paid so far would go towards the purchase. :)
    lifeasinoit

    Answer by lifeasinoit at 10:02 PM on May. 6, 2009

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