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 zero for the land contract business, Detroit. After the housing bubble burst, tens of thousands of homes in the city went into foreclosure. Investors snapped up the vacant, deteriorating properties, and now offer contracts on them with low down payments. But there can be devastating surprises waiting for the buyers, who are responsible for all repairs and maintenance, and can lose their investment overnight.”
Source: After the bubble burst | Reveal