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Whay Chat, Rent to Own issue?


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Posted by Bummed (147.240.236.9) on August 19, 2004 at 17:06:50:

Long story short, we declared Chapt. 7 a few months ago. Transferred to a new area where we were offered, and we accepted, a lease to own. The owner's/lessors financed our 5% down and rolled our payment into the monthly lease to own payment. Problem is we are paying out the wazzoo and practically living paycheck to paycheck to cover the rent and our loan payment. We signed a 2 year lease w/ stipulation that we would try to finance the home in 2 years, if not we can walk, as long as we pay back the 5%.

Is this legal? No one would rent to us at the time because th BK was less not official, and/or they wanted a huge amount of money down, which we could not afford. I have a very good solid job (8 years)What if we switch jobs and have to move w/in the 2year period? How can we get out of this mess?! Will an attorney take our case?


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