After a resurgence in predatory rent-to-own contracts from largely unregulated companies that falsely promise homeownership to people with low incomes, Housing Action Illinois drafted and advocated protections for rent-to-own homebuyers. We're happy to say that our legislation passed and was signed into law last year. As of January 2018, homebuyers in Illinois are protected from some of the strongest consumer safeguards in the nation when it comes to these contracts.
We want to get the word out about these protections—and we'd like your help.
This law is new, and most people don't know about it yet. By telling people about it, you can help protect neighbors who may be vulnerable to predatory contracts. Raise awareness by reading and sharing our educational brochure with your colleagues, clients, and community. We have created a brochure on rent-to-own contracts that helps prospective home buyers identify warning signs of predatory contracts for deed and understand new consumer protections provided in the Installment Sales Contract Act (765 ILCS 67).
Educate your clients and your community:
Click here to download the brochure as a PDF. Want physical copies? A limited amount are available for free and upon request; simply fill out the form below to request physical copies for yourself or your agency.
Watch our webinar outlining the new protections.
Our public education efforts on these protections are supported by Associated Bank.
