SOURCE: Lease-To-Own Realty, Inc.

May 14, 2008 08:30 ET

Lease-To-Own Realty Allows Renters to Buy a Home Without a Traditional Down Payment and Closing Costs

TORRANCE, CA--(Marketwire - May 14, 2008) - The owners of Torrance-based Timeshare Relief, Inc. launch Lease-To-Own Realty (L2O), creating the possibility for millions of renters to lease towards homeownership through a unique Lease to Own program with a cost and process similar to moving into a rental property.

The Lease-To-Own program offers aspiring homeowners the chance to bypass large down payments, and move right into the home of their choice! While leasing the home for up to 18 months, L2O customers are assisted with their credit to ensure that they qualify to assume the mortgage as soon as possible. There is no other program out there offering the same opportunities.

"Lease-To-Own promises to be the new non-prime mortgage loan, it being safer for both the tenant and for the lender," says Ed DeShields, President and COO of Community Empower.

As home inventories are on the rise, now is the time to buy. For potential homebuyers qualifying for home loans and coming up with down payments has become more difficult than ever before, due to the effects of subprime loans, foreclosures, and the struggling economy. Lease-To-Own Realty has the perfect solution for renters affected by the credit crunch of the subprime mortgage meltdown, as the program does not require perfect credit to start or a down payment.

"I've been helping homebuyers for 15 years. Lease-To-Own is the most comprehensive product I've ever seen," says Matthew Duffield, Vice President of Quicken Loans. "Lease-To-Own is simple, and alleviates the fear and risk associated with buying a home."

About Lease-To-Own Realty

Lease-To-Own Realty, Inc., from the owners of Timeshare Relief, Inc., has partnered with Texas-based Community Empower to fulfill renter's dreams of homeownership. With no down payment, the program allows aspiring homeowners to lease a home from an inventory for up to 18 months. During the lease period, the 30-year standard mortgage is being paid down by the monthly payments. Many renters may require help with their credit. The Lease-To-Own credit education system helps renters improve their credit rating and assume the mortgage payments during the lease period. For more information on Lease-To-Own Realty, visit www.L2Orealty.com or call 888-526-9648 to find out how to participate.

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