Breaking News! Homebuyers Are Making Their Payments and Still Losing Their Homes
The Springfield Newsleader had breaking news today about a company in Springfield that are selling homes contract for deed, collecting the rents from the buyers and failing to forward the funds on to the investor/owners.
A Contract for deed allow a buyer to purchase a home by borrowing from the seller instead of the bank. With this type of transaction, the seller retains the title until the loan is paid in full by the buyer. This is a very risky way to purchase a home, especially if the buyer knows the payment is not being made directly to the bank holding the mortgage.
Many buyers, purchasing homes contract for deed, never have an appraisal or have their home inspected for material defects. Read more.
These companies have added approximately 200 foreclosures into an already saturated market.
Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Missouri. She is ready and available to help you with all your Springfield Mo real estate needs. To contact her go to www.kayvankampen.com.
If you would like a free list of homes for sale in this area/neighborhood, would like more information about Springfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at: 417.839.4534.
Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Greene, Christian and Webster Counties in Missouri. She is ready and available to help you with all your Springfield Mo real estate needs. To contact her go to www.kayvankampen.com. If you would like a free list of homes for sale in this area/neighborhood, would like more information about Springfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at: 417.839.4534.
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RE/MAX Solutions www.kayvankampen.com
Springfield, MO, 65721
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