Home owership can be a great way to build generational wealth, but that idea works best when the family or individual has already begun to create a strong financial foundation. 135 Views · View 2 Upvoters. Related QuestionsMore Answers Below.
Usually offered on low-end homes, rent-to-own agreements allow you to pay reasonable monthly payments that go toward the purchase price of the home. Just make sure your deal with the seller is legitimate and completely in writing because the rent-to-own home market is full of potential for scamming. Accept that your rate will be higher. Consider alternative routes for financing.
As of May 2010, home prices in Las Vegas were down 60 percent from 2006, and more than 9,500 hundred homes sit empty.
Let's take a look at each of these. The first option to consider is the classic subprime mortgage.