They want people to take out loans and pay the bank back with interest. The more people who take out a loan and don’t pay it back the more people who’s credit gets ruined. The more people who have bad credit means the more people who cant apply for a loan for a car or for their business or anything else they need. Americans with bad credit can’t do much and most Americans put getting a house and having somewhere to live before having a reliable car. So, if their were more rent-to-own deals they wouldn’t have to take out a loan and foreclose the deal when something goes bad they could use their good credit and get a car or something else they need/think they need. If the government allows for more rent-to-own deals then they have a chance of having more people take out loans on other things other then houses, and they have a higher chance of having homes taken care of
They want people to take out loans and pay the bank back with interest. The more people who take out a loan and don’t pay it back the more people who’s credit gets ruined. The more people who have bad credit means the more people who cant apply for a loan for a car or for their business or anything else they need. Americans with bad credit can’t do much and most Americans put getting a house and having somewhere to live before having a reliable car. So, if their were more rent-to-own deals they wouldn’t have to take out a loan and foreclose the deal when something goes bad they could use their good credit and get a car or something else they need/think they need. If the government allows for more rent-to-own deals then they have a chance of having more people take out loans on other things other then houses, and they have a higher chance of having homes taken care of