are there any condos or neighborhoods in this area like that? anyone have any experience with these?

7/5/2006 10:02:08 PM

if you rent a place at the links a portion of your rent can go to your downpayment should you decide to buy a unit. but that place ain't so great.

7/5/2006 10:15:02 PM

a mortgage is a rent to own for the most part.

7/5/2006 10:58:52 PM

well yeah but you know what i mean

7/5/2006 11:02:43 PM

you've got to think of the benefits of a mortgage. tax deductions, credit ratings, etc

7/5/2006 11:48:24 PM

if you aren't in a position to get a mortgage yet & still want to work toward owning a certain home, a lease-option can be a good thing. make sure you keep your cancelled checks to show your payment history & you can actually gain ownership of the property through a refinance, rather than a purchase (how long after living there depends on your credit score and how much you have accrued toward the property...you have to have a vested interest in the property). with a refi, you can roll the closing costs into the loan.

so, yeah, if your credit isn't in a position for you to purchase right now, it's a good idea. otherwise, you're paying rent with only a portion of that going toward owning the property, rather than actually paying on a mortgage. that's my opinion, at least

^and you'll miss out on those tax benefits



[Edited on July 6, 2006 at 12:44 AM. Reason : *]

7/6/2006 12:17:03 AM