Contracts for deed are under federal mortgage protections: CFPB
Housing Wire
AUGUST 13, 2024
In these contracts – also known as “land contracts” or “bond for deed” –the seller retains the legal title to a home until the borrower completes all the payments, leading to some “traps,” according to the CFPB. Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. “The
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