I'm hoping to file BK soon, chapter 7. Thinking about letting the house go. Have been looking at rental properties. One sounds really good...can rent or lease to own. I suppose having a BK in my backround would never let a lease to own opton happen?
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Ask the leaseholder. Tell him/her the truth. You never know until you ask... -
I agree, talk to the person who is going to do the rent to own. We filed BK7 and are doing a lease to own. We explained our situation to our landlord, and gave extra as a downpayment. So it is possible! It really depends on the landlord!! Good luck!Originally posted by Brookamy View PostChapter 13 filed: January 4, 2008 :blink: Converted to a Chapter 7: April 23,2008 :unsure:Letting go of our house in the Chapter 7. :cry:341 Meeting held: May 23, 2008, :angel: No assett will Discharge: July 22, 2008:clapping:
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You will never own the property outright so lease to own is just another gimmickOriginally posted by Brookamy View Post
You are better off renting."Paper is poverty,... it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788Comment
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Those of you that purchase a home thru "lease to own" or "rent to own" or "land contract" need to google "lease to own" and "land contract" and read closely ALL THAT IS INVOLVED when you purchase a home this way. Its entirely different than a standard mortgage with lots of little extras throwed in that you may or may not want......
Make sure that you have everything in writing and that its recorded at the courthouse. If it's not recorded, its not valid in the eyes of the court.........
Protect yourself and your investment if you go this route......Minny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.Comment
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