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Home sellers become U.S. lenders of last resort for credit-damaged buyers

Posted on 12 May 2011

Financing provided by home sellers, popular in the 1980s when mortgage rates reached 18 percent, is making a comeback in markets such as Michigan that have been hit hard by foreclosures and where tightening lending standards and years of economic distress have drained the pool of creditworthy buyers.
For a small but growing number of people, it’s the only way to get a deal done……………………………………….Full Article: Source

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