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Seller-financed home sales are 'toxic transactions'

US consumer law body calls such deals similar to buying homes on instalment with a high-interest, long-term loan

The National Consumer Law Center study describes a shadow housing market that emerged in the US after the global financial crisis.

New York

SELLER-FINANCED home sales are "toxic transactions", a prominent US consumer law organisation said on Thursday as it released a report and called for greater federal and state oversight of the sales. In its report, the National Consumer Law Center (NCLC) said many of the