“In a contract for deed, buyers purchase a property over time directly from a seller, without a bank or other lender financing the purchase,” explained Sen. Tina Smith (D-MN).

WICHITA, Kan. (KMUW) — A new law regulating contract for deed home sales is now in effect in Kansas. Contracts for deed allow a homebuyer to make monthly payments directly to a seller instead of ...

On August 13, 2024, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion stating that contracts for deed are “credit” under Regulation Z, and therefore subject to its ...

“Land contracts and lease options create a mirage of homeownership that drains wealth from low-income neighborhoods and communities of color and increasingly targets immigrant communities ...

The Consumer Financial Protection Bureau is cracking down on contract-for-deed home financing deals by requiring that sellers disclose financing costs, assess a borrower's ability to repay and abide ...

The hearing concerned several alternative home purchase methods, including contracts for deed, which are sometimes known as land contracts, as well as rent-to-own housing programs.

The Pew Charitable Trusts reports about 1.4 million Americans were using contracts for deed to buy a home in 2022. Tara Roche, who leads Pew’s housing policy initiative, said part of the problem ...

What’s more, the contract included interest at a rate of about 6% — which defeated the main reason to use a contract for deed. After five years, he would still be more than $500,000 in debt ...

Despite the high risk, county governments in the state recorded 47,524 land contracts in the state, the fourth highest in the country, between 2005 and 2022, according to Pew Trusts.

Mancini testified that she believes that contract-for-deed agreements fall under federal laws like the Truth in Lending Act, but that they are “being violated left and right, and no one is ...

Contract-for-deed home sales lack many of the consumer protections of a bank-backed mortgage loan. Homes can be sold for tens of thousands of dollars above their current market price, which makes ...

Pew found 686 land contracts were recorded in Kansas from 2005 to 2022 – but researchers say that’s likely a vast underestimate because the contracts don’t have to be tracked.