Housing: Contract for Deed – Voices for Civil Justice

Predatory lending robs people of home ownership

News Story, Video (Georgia)

Predatory lending robs people of home ownership

May 1, 2018 | Keith Whitney | WBRC (Birmingham, AL)
Imagine paying tens of thousands of dollars for a house you thought was yours, only to get evicted for missing a payment. That is how a "contract for deed" can trick you out of your home.
Tags: Housing: Contract for Deed

A House You Can Buy, But Never Own

Feature (Georgia)

A House You Can Buy, But Never Own

April 10, 2018 | Alana Semuels | Atlantic, The
African Americans in the same neighborhoods decimated by subprime lending are now being targeted with new predatory loan offerings, a lawsuit argues.
Tags: Housing: Contract for Deed

Homebuyer’s dream turned nightmare

News Story, Video (Minnesota)

Homebuyer’s dream turned nightmare

November 11, 2016 | Lauren Leamanczyk | KARE (local NBC, Minneapolis)
Imagine finally buying your dream home, moving your kids in and making your payments, only to find out it’s being taken away. An investigation found that is happening to many Americans because of glaring loopholes in the nation’s real estate laws.
Tags: Housing: Contract for Deed | Housing: Foreclosure

BUYERS BEWARE: Contracts to watch out for when buying a home

News Story, Video (Georgia)

BUYERS BEWARE: Contracts to watch out for when buying a home

November 3, 2016 | Dave Huddleston | WSB-TV (Atlanta)
Experts told Channel 2 Action News that a resurgent owner financing practice is offering families in low-income communities a chance at home ownership with a catch.
Tags: Housing: Contract for Deed | Housing: Eviction

Home loans for poor leave some feeling misled

News Story (Georgia)

Home loans for poor leave some feeling misled

August 1, 2016 | Michael Kanell | Atlanta Journal Constitution (AJC)
People with a land contract put money down, make regular payments plus interest, and pay taxes and insurance. If they make payments all the way to the end of the contract, they will own the home. If they don’t they can be evicted and lose everything they put into it.
Tags: Housing: Contract for Deed | Housing: Discrimination

Here’s why low-income households may gamble with homeownership

News Story (NATIONAL)

Here’s why low-income households may gamble with homeownership

June 1, 2016 | Sophie Quinton | PBS News Hour
Texas passed a law last year that will help McKinney and homebuyers like him claim titles to the properties they’re paying for, the latest in a series of reforms. Other states also are adding protections for buyers involved in this archaic form of financing.
Tags: Housing: Contract for Deed

Buyer beware: Contract for deed may prove costly

News Story (Missouri)

Buyer beware: Contract for deed may prove costly

April 14, 2016 | Shannon Halligan | KSHB (local NBC, Kansas City)
Buying a home straight from the seller may seem like cutting out the middle man, but some say if it's not done right, it can be costly.
Tags: Housing: Contract for Deed