New York to settle inquiry of rent-to-own trailer park firms

Source: Matthew Goldstein, N.Y.Times (Paid Registration)

Regulators have been cracking down on abusive rent-to-own deals in which people shell out thousands of dollars for run-down homes that they never actually get to buy.  Now authorities are homing in on similar deals offered by operators of manufactured home communities, otherwise known as trailer parks.

The New York attorney general’s office is expected to announce a settlement that could give hundreds of people who signed rent-to-own leases with a trailer park the right to tear up those deals and recoup any deposits they paid, according to two people briefed on the matter who were not authorized to speak publicly.

Read Full Article: New York to settle inquiry of rent-to-own trailer park firms

 

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