Private Equity: The New Neighborhood Loan Sharks Veterans of the Contract Buyers League hit the doors again.

Contract for What? A contract is shorthand for “contract for deed,” also advertised as “rent to buy,” “seller financing,” or “installment land contracts.”  These are not inherently predatory, as any northern Midwesterner will tell you. Land contracts are common ways to finance real estate, especially in rural areas without many banks. In 2009, the last […]

Read More »

Texas firm accused of preying on black homebuyers

The suit, filed in U.S. District Court, includes 17 plaintiffs, who say they were misled by Harbour Portfolio and associated companies into thinking they were becoming owners when they signed agreements that effectively made them renters. Harbour targeted black areas with the deals, known as “contracts for deed” or “land contracts,” which gave the plaintiffs […]

Read More »

Lawsuit: Texas Real Estate Firm Targeted Black Neighborhoods, Swindled Prospective Homebuyers Into ‘Land Contracts’ – Atlanta Black Star

“The companies make it difficult for aspiring homeowners to ever achieve the goal of ownership, which is what they think they are doing,” she told the AJC. “None of the people in this lawsuit understood. They believed they were becoming homeowners and they later found out they were functionally renters.   Source: Lawsuit: Texas Real […]

Read More »

How a Home Bargain Became a ‘Pain in the Butt,’ and Worse – The New York Times

“Across the country, people like Mr. Williams have found themselves in similar predicaments. Unable to obtain a traditional mortgage, they have signed a high-interest, seller-financed deal known as a contract for deed that works like an installment plan for housing. For many, these deals can quickly turn into money traps. The deals also have added […]

Read More »

Arkansas investigates Harbour Portfolio’s attempt to buy AR bank

“Government scrutiny of Harbor Portfolio Advisors of Dallas has contributed more baggage to weigh down a would-be sale of Arkansas’ smallest bank. Two of the three prospective buyers of an 87.3 percent stake in Community State Bank of Bradley (Lafayette County) are affiliated with Harbor Portfolio Advisors: Chad Vose, president of the company, and Farzana […]

Read More »

“After the bubble burst” | Reveal | A podcast that features a Home Savers Campaign Organizing Committee member!

The Home Savers Campaign is delighted to hear the investigative report that Reveal has done on land contract sales in Detroit with our Organizing Committee member Stevenna Dobson and the podcast’s deeper look into Trump’s friend and advisor Tom Barrack and his investment into the foreclosure crisis. “Michigan Radio’s Sarah Hulett brings listeners to ground […]

Read More »