Understanding Land Contract Homes: In Pursuit of the American Dream
I recently published a book on the subject of Land Contract Homes which is now available as an eBook. The title of this book is: Understanding Land Contract Homes: In Pursuit of the American Dream.
Over the years I have written various articles on my blogs about Land Contract Homes, and still receive inquiries from those writings. I took on as a project in August of this year to compile a text on the subject for buyers and sellers to read, and gain better understanding of how they work.
Land Contract Homes are experiencing a renewal in recent years, which is different from its earlier popularity in the 1970’s and early 1980’s. In those time period, Land Contract Homes were the popular form of financing because they offered lower interest rates (at usually 10% to 11%) as compared to the conventional mortgage rates that skyrocketed to as high as 18% during those years.
Today, Land Contract Homes as a form of seller financing is a higher interest rate than conventional mortgages, but they serve a different use. Land Contracts are becoming popular because they serve as a bridge from a condition of poor or shaky credit, and allow a time to recover, where they can be re-financed into a conventional, FHA or other mortgage after they have taken the time to repair their credit.
In this way, someone who suffered a foreclosure can make the transition to becoming financed again, with a willing seller who will offer them seller financing. There of course many aspects to this, and the buyer must be willing to improve their credit standing in order to be successful in obtaining a Land Contract. However, this books explains how this process works and I also give tools on how to change your life around, as well as repair a poor credit record.
I hope you will take advantage of my eBook, and buy it today.