The
only way to sell your house on land contract
.
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Why We Created The Land Contract Store
The Land Contract Store was created to help home sellers and their realtors
in the wake of the collapse of the subprime mortgage industry, and
tightening lending standards from what's left of the mortgage industry. Sub-prime
(marginal credit) loans have disappeared. Jumbos are nearly non-existent. Mortgage loans
continue to be harder and harder to obtain.
By some estimates,
more than two-thirds of the people who could have obtained bank mortgages in early 2007 are now
rejected.
That means sellers
who were already enduring a slow market now have one third as many
buyer-prospects. And as the inventory of unsold homes increases, the odds of
selling their houses become worse.
One solution: Temporary seller financing, giving the buyer time to improve their credit, increase their down payment by building equity, get more time on their job, and make improvements on any other factor that keeps them from getting a mortgage loan right now.
Why are more and more people selling on land contract?
A historical perspective:
In 1981, land contract sales accounted for roughly 75% of home sales in the United States. The problem then was high interest rates.
Back then a
buyer could get the loan, but they couldn’t afford the payments.
Today,
they can afford the payments, but they can’t get the loan.
Different times, same solution. Land contract.
The
only safe and easy solution to selling on land contract is
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