Help Our Economy - Buy Or Sell A Rent To Own Home

The statistics for today's economy are not good; unemployment is at 9.2%, there's an estimated 1.2 million homes that will be foreclosed this year and a 1.7 million 'shadow inventory' of homes about to be foreclosed lurking closely behind.

Things are obviously not getting any better with the current band-aids government is offering.

Why not offer solutions instead of patches?

Selling or purchasing a rent to own home could potentially help put money into our economy by saving sellers from foreclosure and credit dings that would prevent them from buying a different home they can better afford, stabilizing house values by reducing the continuous onslaught of foreclosures in the market, stimulate home sales by 'privatizing' them as a rent to own sale, utilize and motivate better than average credit risks to re-purchase rather than rent and to give them time to correct their credit issues so they can qualify for a traditional loan.

Banks wouldn't be taking back defaulted loans, but issuing new ones with more to come in the foreseeable future, the government could stop shoveling good money at soon-to-be-defaulting loans and instead stimulate growth by offering tax incentives to private rent to own home sales, real estate agents and brokers could facilitate these sales for an upfront portion of the down payment and collect their commissions when the sales close. They could also expand services to include property management to fill the financial gap, and lenders and loan officers could specialize in true and regulated credit repair.

The rent to own system is not without vulnerablities that would need to be addressed, but education and government regulations could greatly reduce the risk of potential pitfalls. At least rent to own could be a positive step towards economic healing instead of the vicious cycle of failure we are currently on.