Credit Restrictions Cost Home Buyers ‘Deal of a Lifetime’ – WSJ
Source: Credit Restrictions Cost Home Buyers ‘Deal of a Lifetime’ – WSJ
Source: Credit Restrictions Cost Home Buyers ‘Deal of a Lifetime’ – WSJ
Wall Street-backed firms are duping would-be homebuyers, 50 years after Martin Luther King Jr. and west-side activists fought against housing discrimination. Source: The infamous practice of contract selling is back in Chicago | Feature | Chicago Reader
City officials have met twice with area residents to discuss the problems, and a complaint has been filed with the Minnesota Board on Judicial Standards about Vicki Landwehr. Source: Judge’s properties in St. Cloud, including 1 with meth lab, called a blight – StarTribune.com
Source: Seller-Financed Deals Are Putting Poor People in Lead-Tainted Homes – The New York Times
The Consumer Financial Protection Bureau, the nation’s top consumer watchdog, is stepping up an investigation into seller-financed home sales that target lower-income home buyers unable to get a traditional mortgage. The regulatory agency on Monday disclosed that it recently ordered two major companies that offer high-interest installment contracts called contracts for deed to comply with […]
Source: Apollo’s Push Into Business That Others Call Predatory – Bloomberg
An article in the Detroit News stated that there were more land contracts and rent to own deals than mortgages in the most recent year in Wayne County. The county recorder charges $24 an hour to look at public records so we could not verify.
Ex-Goldman execs now help foreclosure victims buy homes at 10 % they probably shouldn’t have lost in the first place.
Why do we think rent-to-own agreements and land contracts are scams? This article is a great example of ex-Vision Property Management employees speaking out about actively scamming consumers. Some quotes: “My big problem with the culture there was that we knowingly manipulated people’s bad situations for our own gain. When people presented us with their […]