Ways to Protect Borrowers From Predatory Home Lending

Land contracts drain low-income communities of resources.

Realtor giving couple keys to new house
(Image credit: This content is subject to copyright.)

Question: What is being done to rein in the newest epidemic of predatory home lending—so-called installment land contracts or contracts for deed, which victimize thousands of unsophisticated home buyers across America, most of them minorities?

Answer:

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Knight Kiplinger
Editor Emeritus, Kiplinger

Knight came to Kiplinger in 1983, after 13 years in daily newspaper journalism, the last six as Washington bureau chief of the Ottaway Newspapers division of Dow Jones. A frequent speaker before business audiences, he has appeared on NPR, CNN, Fox and CNBC, among other networks. Knight contributes to the weekly Kiplinger Letter.