rent-to-own contracts, then threaten them with criminal charges in order to coerce payments that the families are struggling to afford. For real estate transactions, alternative financing approaches such as lease-to-own carry fewer consumer protections than traditional financing, and typically involve a higher cost for the buyer. Commercial loan arrangements are exempt from the Dodd-Frank Act, as a landlord might rent to own a property for the purpose of sub-letting to a tenant. This arrangement is not a popular arrangement but may be accomplished legally. Worldwide New Zealand Auckland’s special housing area is subsidized by the Housing Foundation, providing homes for young families. Under their program, tenants pay rent on their homes for the first five years, then transition into paying mortgage payments. The Waimahia Inlet flagship development will see 282 new homes built over the next three years. Nigeria The Lagos State Home-Ownership Mortgage Scheme (LagosHOMS) is a rent-to-own housing program that targets people who currently cannot afford a mortgage, but given will be able to. Tenants are expected to pay rent for a period of time, after which they are invited to transition into mortgage payments. The program is designed with young professionals in mind, including teachers and junior public servants. The program has produced well over 200 new homeowners in the city. References External links "Lease Purchase Agreement Rules in Ohio". "Lease Purchase Agreement Rules in California". Property law Contract law Legal documents Real estate terminology