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How Contracts for Deed Put Families at Financial Risk — ProPublica

Contracts for deed seem like an easier path to homeownership, but they often come with a huge financial risk for vulnerable families.

United statesJim davnieSteven legattJeff scislowLuke grundmanImran husseinWafiq fannounRon elwoodIsmail harunLarry wertheimShirwa adanJohanna osmanCentral minnesota community empowerment organizationReba freeSakan community resourceBanken holdings

Real estate investors sold Somali families on a fast track to homeownership in Minnesota The buyers risk losing everything

For Somali Muslim families in Minnesota, a contract for deed seems like an easier path to homeownership. But predatory practices and poor regulation can make it a financial trap rather than a good deal.

United statesJim davnieSteven legattJeff scislowLuke grundmanLarry wertheimRon elwoodAmhersth wilder foundationLegal services advocacyEast african muslimFor deedSahan journalTwin citiesMid minnesota legalSomali homeInterest free home

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