Contract-for-Deed Financing Reaches Regional Peaks – NMP Skip to main content

Contract-for-Deed Financing Reaches Regional Peaks

Phil Hall
Nov 08, 2016
The level of home financing known as contract-for-deed has been rising, particularly for lower-value homes Rust Belt markets

The level of home financing known as contract-for-deed has been rising, particularly for lower-value homes Rust Belt markets, according to new data from ATTOM Data Solutions.

More than 103,000 contracts-for-deed were recorded nationwide between 2010 and 2014, a 10 percent increase compared to the period between 2005 and 2009. The average sales price for the contracts-for-deed transactions during 2010 to 2014 was $87,010, which is 38 percent below the average sales price of $141,423 for contracts-for-deed recorded between 2005 and 2009.

Among the most notable markets to see above-average increases in contract-for-deed activity are Trumbull County/Youngstown, Ohio (136 percent increase); Michigan’s Wayne County/Detroit (63 percent increase) and Genesee County/Flint (53 percent increase); Marion County/Indianapolis, Ind. (46 percent increase); Dane County/Madison, Wis. (26 percent increase); and Hamilton County/Cincinnati, Ohio (24 percent increase).

Published
Nov 08, 2016
Manufactured Housing: The New Affordable Alternative

While the housing market is grappling with widespread affordability and supply, manufactured homes are gaining ground as a new alternative. 

Industry News
Dec 03, 2021
Angel Oak Home Loans Opens 3 New Branches

Continues expansion in Western U.S. with new branches in California, Nevada & Utah.

Industry News
Dec 02, 2021
Open Mortgage Names New President

Joe Stephenson, formerly of American Advisors Group, to lead daily operations.

Industry News
Dec 01, 2021
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021