Tag: mortgage alternatives
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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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Federal Update: New Contract for Deed Rules
Contracts for deed – sometimes called installment contracts, land sales contracts, or owner carry – leave the deed until the borrower pays for the home in full. Until then, the borrower lives in and maintains the home. This is a type of seller-financed home sale – and it’s one way to avoid getting entangled with…
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Risky Business? Minnesota Home Buyers Skip the Mortgage, Preferring Contracts for Deed
Land contract financing, a.k.a. the contract for deed, is a go-to method of home buying in Minnesota — especially in urban neighborhoods. These contracts allow homeowners to sell directly to buyers, bypassing the scrutiny of a mortgage lender. Each year, thousands of Minnesota buyers use them to finance their home purchases. Federal lawmakers across the…
