Tag: equitable title
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Legal Title? Equitable Title? Your Stake in the Deed, and Why It Matters
Holding the title to real estate involves responsibilities and duties related to the upkeep, use, and control of a specific property. The name of the property owner, appearing in the public records, identifies the person with legal title. The person named on the deed has that famous “bundle of rights” (like the right to transfer…
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In Indiana, Sidelined Borrowers Turn to High-Risk Mortgage Alternatives
Over the last twenty years, there’s been a shift in home financing in Indiana. Tens of thousands of deed seekers have bought properties on installment contracts. Also called land contracts or contracts for deed, these alternative financing agreements can make a home purchase possible for those who cannot get financing from a standard mortgage lender.…
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Buyer Can’t Get a Mortgage. Seller Will Take Installment Payments. A Win-Win?
In a “contract for deed” or installment contract, a seller provides financing directly to the buyer. No mortgage company is involved. The harder a mortgage approval is to get, the more attractive this alternative becomes. It can be a lifeline for people with varying income or a thin credit profile. It can also be a…
