🚀 go-pugleaf

> I apologize for my shortsitedness. I should have said anywhere in the
> U.S. All you gotta do is remove that foreign speaking part of your
> country, get annexed as the 51st state and then I'll be able to process
> your ads. Furthermore, I would no longer have to worry about falling
> off the end of the world everytime I cross the bridge to Windsor.

That's priceless.  *lol*

I can get caught up in the great Canadian past-time of bashing our
American cousins (particularly where NAFTA and softwood lumber are
concerned) but the sniping in prior posts was unwarranted and uncalled
for.  Good for you for retaliating with a retort better than the
stereotypes of Americans would lead us to believe you are capable of.
:)

> Hey rob...@nf.sympatico.ca, when you say "It's sad to see that someone
> is continuing to try and scew the little guy", do you mean me (JSC)? By
> posting an article explaing the RTO concept and/or offering FREE ads to
> BOTH buyers and sellers, please explain how we are trying to screw
> anyone. BTW, most landlord/sellers that post house available ads are
> little guys (just like most of the tenant buyers and JSC).

Everyone >> Remember that there is a risk involved in the Rent-to-Own
concept for the landlord and, at the same time, they are also reducing
their gross income each month by offering rental credits.  Effectively
the landlord is becoming responsible for holding the mortgage on behalf
of the rentor.  When you take that into consideration why shouldn't the
landlord place a few restrictions on the timely reception of payments?

Since I am responding to a post in a Ottawa NG...in the province of
Ontario when you do not submit your rent on time at the beginning of
the month that the landlord can serve you with a form demanding payment
within 21 days or you have to move out.  The only exception to this
rule is in the dead of winter (for obvious reasons).

The option that JSC is describing is for people who cannot secure a
mortgage.  Since they cannot secure a mortgage and they want to buy a
home they would take this route.  If they did not then they would
be...come now...everyone together...renting.

To quote the OP..."A lease purchase can make your rent money work for
you instead of making your landlord rich".  If these people are renting
without this RTO concept working the background then even if they miss
a payment date or two they are still further ahead in their quest to
own a home than if they just rented and did nothing.  The Option
Consideration is anywhere from 2.5 - 7% of the value of the unit and
while CMHC may allow for 5% downpayments but that is for the typical
person who does not have any blemishes on their credit.  Banks can
demand a larger downpayment depending on how much of a risk they think
you are.

Methinks that kwo...@hotmail.com got it right...someone is looking out
for the little guy by making this option more widely available.

Now if only we could get something like that going up here in the 51st
state...er...I mean Canada.  ;)