Arlyn spoke of a company called Home Partners of America which helps buyers get a home if they have a foreclosure, bankruptcy or divorce on their record. The company actually buys the property and rents to the distressed buyer with an option but not obligation to buy later. They can then use the time renting (up to 5 years) to rebuild their credit. By renting from Home Partners, a larger selection and better quality of homes is made available compared to the homes available for renting from the owners.
Home Partners does not finance any part of the purchase. The buyer would still have to pay cash or get a mortgage. The rental money is not applied to the purchase.
The company pays cash for the property so the closing process goes much quicker and they are fair about market value.