News Story (Pennsylvania)
September 26, 2016
READ THE FULL STORY HERE
Tags: Consumer Protection
Organizations mentioned/involved: National Consumer Law Center (NCLC)
The deals combine the worst aspects of home ownership -— being responsible for major repairs — with renting — vulnerability to eviction — without the legal protections of either.
“The important thing is these [types of deals] are built to fail,” said Sarah Bolling Mancini, staff attorney with National Consumer Law Center and one of the authors of a report about such deals. “The sellers make more money if the buyer does not succeed,” because they end up churning multiple people through the property, with various tenants paying to make repairs.