With the Banks' tightening of the money, there has been a resurgence of Lease to Own Agreements lately. Although these deals are popular with both Buyers and Sellers, they are not to be taken lightly. Here's why these instruments are potentially dangerous: Danger for the Seller: If the Buyers stop making payments under a Lease to Own Agreement, the Seller can not evict them. Instead, the Seller has to institute foreclosure action, which can take many months. In essence, the Owner could potentially have tenants who don't pay rent for a very long time (foreclosure action may take … (13 comments)
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