It looks like you put 10% down and then get an option to buy the property, but can lose that option by defaulting on the payments. After hearing about loan servicing co’s screwing people by changing addresses and other chicanery, you’d want a lawyer to read over the paperwork really well.
Without knowing anything about this, I’d guess that with the combo of
1) focusing on people who won’t pass credit/income checks
and
2) presenting a complicated deal with all sorts of living trusts and options to that person
it probably amounts to the Rent-a-Center or Cal Worthington of buying a house. I don’t know anything though, but it just smells fishy, I guess it’s just “difficult to adjust to the idea that an applicant will be approved regardless of credit, income or job status.”
