With so many foreclosures happening across the country it's no wonder that more companies haven’t developed that would buy up the foreclosures and either sell or rent them out. One company in particular has a new idea. They are located in Georgia and are called the Pride of Ownership Parnters. They allow people to rent that are interested in buying at a later date.

Troubled consumers will have a shot at purchasing a home if they rent the home for three years and then try to purchase soon after. The renter can try to purchase the home sooner than three years as well, but they will not be able to have such a large down payment as they would if they rented for three years. The way the idea works is that a person leases the foreclosed property for three years then half of that money will go towards the down payment. The buyer will then get full credit for paying for the home for the past three years on their credit report. This will help improve their credit hopefully enough to be able to buy the property.

Pride of Ownership Partners hope to be able to turn neighborhoods in Georgia turned around from the many foreclosures that have occurred. Many properties have to be fixed up since previous owners vandalized the property or the home has been sitting long enough for strangers to break in and graffiti the walls and destroy some of the appliances that were left behind.