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Market for fixer-uppers traps low-income buyers

Contracts for deeds lure them into home ownership but ends in eviction when payments and taxes go unpaid
Monday, February 22, 2016 - 05:50

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Critics say that contracts for deeds take advantage of people's desperation and can worsen neighbourhood blight.

Akron, Ohio

HUNDREDS of broken-down houses still dot the streets of this one-time tyre capital of the world, a scar from the financial crisis and housing bust.

The wood has rotted in some, others have black mould, broken windows or failing foundations. Many lack working electrical

sentifi.com

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