This should probably go in another thread but for some reason this is the only one that I can get into today.I've posted before about wanting desperately to buy a home.I think I came across somrting that might make my dream a reality.A friend of mine has a sister that is selling her house,actually she sold it"rent to own" once but the guy hasn't made a payment for about 4 months so she is kicking him out.It's close to where I live now so my son wouldn't have to change schools.It's smaller than what we rent now,we have 4 bedrooms and 2 big livingrooms,this house has 3 bedrooms and I don't know what else but it's small from the outside.My mother lives with us so she would have to approve it to.The back yard is fenced in so my sons "BIG" dog could run around instead of being chained up.The house is so cute.I've never done anything like this before.The payments would be 400 a month,we pay 350 now.But eventually it would belong to me and my soninstead of paying rent to own nothing.She said the payments were for about 16 years.Does this sound like a good idea? Where we live now the wiring and plumbing are shot and the landlord fixes nothing.The electric runs 250-300 a monthand we don't even use the heat because it runs about the same as the rent and electric.I think we would come out ahead with smaller utilities to pay even though the rent would be 50 more.The family there now will be out in 2 weeks and I can look at it then.How does this sound to everyone else? I'm afraid that I want it so much I might end up in worse shape than I am in now,I would make the payments to her lawyer and she would have him draw up papers.If anyone has experience with rent to own or just an opinion,I am in desperate need of advice. Thanks,and cross your fingers for me. Trish

collateral to get a second loan or such. Also that person can raise the rent/payments as much as she wants to and how often she wants too because you are renting compared to a mortgage where it is locked. Also my friend learned that the owner could make you buy out the remaining principle at any time. This means that either you come up with the remaining balance on the house with in (90 days I think) or you are evicted. Also he learned that if the owner dies, and her family (taken that she left it to them) they can sell it out of under you. Now I am speaking from a California stand point and we all know California is the most liberal state in the union but it could be different where you live. I am not saying that it is a good or bad idea but just something to take into consideration.