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Texas A&M University School of Law

Housing Law

2023

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A Theoretical Justification For Treating The Contract For Deed As A Mortgage, Matthew J. Blaney May 2023

A Theoretical Justification For Treating The Contract For Deed As A Mortgage, Matthew J. Blaney

Texas A&M Journal of Property Law

Millions of Americans finance their home using the treacherous contract for deed. Denied access to the conventional mortgage, the contract for deed often is the only alternative for Americans seeking the stability of homeownership. Historically, however, this deceptive financing device disrupted the lives of thousands of individuals by forfeiting their property and all payments made on the contract—even where only one installment was overdue. Low-income Americans and immigrant families disproportionately experience the brunt of the contract for deed. Furthermore, as Americans experience rising prices and increasing financial instability, there is reason to fear sellers—equipped with insight into lenders’ former mistakes—could …