Monday, April 7, 2014

Finding a rent to own house?

My husband and I really want to get into our own house by the time our lease it up in our current home. However we are both rebuilding credit from bankruptcy and do not have much saved for a mortgage down payment and closing costs due to some bad decisions leading to the bankruptcy. We have two kids with a third on the way and are self reliant(no government aid) however even with the basics (not living out of our means) we still cannot save much each month, so we were looking into a rent to own house. However we don't know what the best way would be. Going through a company (like our current condo) or just finding an owner to do a rent to own contract with us. Most OWC situations though that I have seen, they wants at least 40% down on top of the monthly plus for credit which is way out of what we can do.

Are there any ways to find a good company that does lease or rent to own contracts on houses? I have searched a little but it all seems shady to me as they either don't have business numbers or refuse to give any information until you basically are in a contract with the business to find your home.

We live in Southern Nevada and are planning on staying here since we have certain ideals( that the laws provide for) and add in the low cost of living we are happy here.

Please only include legitimate sources. I do not want to see anything about how a mortgage is better or to just keep renting until we have the money saved because that won't happen for about 5 years.

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