Alternative financing arrangements can be the only option for low-income Americans. But they lack the same protections as a mortgage, and many end up paying for years without ever gaining ownership.
Alternative financing arrangements can be the only option for low-income Americans. But they lack the same protections as a mortgage, and many end up paying for years without ever gaining ownership.
The contract for deed or rent-to-own option is marketed as a way for people who can’t get a conventional mortgage to realize the dream of owning a home. But more often than not, buyers do not end up as homeowners. And, most Midwestern states provide little, if any, consumer protection to prevent abuse.
The contract for deed option is marketed as a way for people who can’t get a conventional mortgage to realize the dream of owning a home. But more often than not, buyers do not end up as homeowners. And, most Midwestern states provide little, if any, consumer protection to prevent abuse.