Land contracts given to eager Detroit home buyers often involve ramshackle houses purchased from tax foreclosure auctions and contracts that are “written to fail,” contends Joon Sung, deputy chief counsel of Michigan Legal Aid and Defender Association, a nonprofit that represents the needy in court. Source: Land contracts trip up would-be Detroit homeowners
Harbour sold its homes through an arrangement similar to an installment payment plan, with a high-interest, long-term loan called a contract for deed, or land contract. But what begins as a dream of homeownership for many residents can end quickly when a payment is missed and the buyer is swiftly evicted. Source: Cincinnati Sues Seller […]
The City of Cincinnati filed a lawsuit this week against a property investor it accused of making predatory and unconscionable land sale contracts and of owing the city hundreds-of-thousands of dollars for various unpaid fines and fees. Source: Cincinnati sues company over ‘predatory’ land sale contracts, blighted properties – WCPO Cincinnati, OH
Source: Petition · Department of Justice: Have the Department of Justice Investigate Home Partners of America & Pathlight Property · Change.org
From the 1930s through the 1960s, black people across the country were largely cut out of the legitimate home-mortgage market. Source: The Case for Reparations by Ta-Nehisi Coates – The Atlantic
A South Lorain family says they are in legal limbo fighting to keep a house they agreed to buy. Since moving in, the Shaffers said they have paid rent and poured money into improving the house — and still might get evicted, depending on the outcome of the case at Lorain Municipal Court’s Housing Court. […]