Moving Away At Home Essay

So many Americans have looked at buying a house, but what if you aren’t ready to commit to that house just yet? Many people have taken out loans/mortgages just to offer a house they think they want to live in for the rest of their lives. Not all of those people actually can keep up with their payments, or really want to live in that house for the rest of their lives. Whether it be because they have to relocate due to their job, or something they have a family situation that involves them to relocate. What do they do now? The have to foreclose their house, that’s not good for the person who sold it nor is it good for the person who had to foreclose it. How do we prevent this? The simple answer is rent-to-own If there were more rent-to-own deals on homes in America it would be easier for families that move into that house. If they think that’s really what they want to move into for the rest of their life they could buy it right then and their or just make payments until it actual becomes their home for good. It gives them a chance to …show more content…
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