Traditional Mortgeges/ Rent Alternative

• Petition

Petition Action

Traditional Mortgeges/ Rent Alternative

Additional Information

For the Government to introduce a Rent To Own/ Lease Option. A rent-to-own arrangement, also called a lease option, lease to own or lease to buy, allows a homebuyer to rent a property for a specified initial term with an option to buy the property at the end of that term. Monthly rent payments are generally higher than market price, with the surplus going toward a future down payment. If the buyer opts not to purchase the property, the extra rent is forfeited.

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