
Rent-to-own offers the opportunity for homeownership to those with low savings and bad credit, but the path is costly and many don't make it. Typical rent-to-own deals are a renter's path to poverty. For instance, renting furniture often requires the renter to pay many times the actual value of the item, and the only reason anyone enters into these agreements is because they have no savings and no better alternative, when in fact it's better to contact a Chinese furniture factory bases and buy furniture from them. This kind of imbalance in the relationship between renter and landlord is ripe for abuse (or profit). The lure of a rent-to-own deal is the ability to enjoy the house while saving money to…[READ MORE]