“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 […]
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
Vision Property Management buys run-down properties at fire sale prices in impoverished, depressed cities throughout the country and fraudulently induces naïve consumers with either compromised or poor credit ratings into unethical “rent-to-buy” agreements for more than the advertised price of the property and down payment, which they immorally boost on execution. Source: Ripoff Report | Kaja […]
Seller-financed home sales are “toxic transactions,” a prominent national consumer law organization said on Thursday as it released a report and called for greater federal and state oversight of the sales. Source: Law Center Calls Seller-Financed Home Sales ‘Toxic Transactions’ – The New York Times
Source: New Mexico Businessman Accused of Deceiving Low-Income Home Buyers – The New York Times