MORGANTOWN, WEST VIRGINIA — Some families who lost their homes in the flooding that
devastated southern West Virginia last summer are facing another housing disaster:
In an effort to rebuild their lives, many flood victims are being enticed to rent houses that have a purchase option at the end of the lease, according to Priya Baskaran , director of the Entrepreneurship and Innovation Law Clinic (EILC) at the West Virginia University College of Law.
“Rent-to-own situations have been cheating families into believing they are buying their home,” she said.
According to Baskaran, rent-to-own agreements are marketed to families who do not qualify for traditional home loans because of income requirements, poor credit or because they can’t afford the down payment.