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‘Contract for Deed’ Lending Gets Federal Scrutiny

By Tony Seruga

A house in Akron, Ohio, that was sold with a contract for deed, a financing model being reviewed by the Consumer Financial Protection Bureau. CreditMichael F. McElroy for The New York Times

A revival in seller-financed home sales aimed at people who cannot qualify for a mortgage has started to attract scrutiny from the nation’s top consumer watchdog.

The Consumer Financial Protection Bureau recently assigned two enforcement lawyers to investigate the prevalence of seller-financed home transactions and determine whether the terms of some deals may violate federal truth in lending laws, said two people with direct knowledge of the matter but who were not authorized to speak publicly at the request of federal officials…

‘Contract for Deed’ Lending Gets Federal Scrutiny

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