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Discrimination When Renting an Apartment
The lease-purchase agreement creates a relationship between a landlord and tenant, whereby the tenant typically rents the property for a specific period of time, and subsequently, purchases the property outright. This situation is advantageous to both
parties. The tenant, often a first time homebuyer, is able to establish a payment history that is important to prospective lenders while buying himself/herself additional time to save money for the down payment and closing costs.
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