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Home deals can target poor, hide expenses

Number 17957
Subject Real Estate
Source Register (Des Moines, Iowa)
State IA
Year 2001
Publication Date May 13 - 15
Summary "Des Moines' most blighted neighborhoods have become profit centers for a growing and largely unregulated home-lending business that trades on the desire of poor people to own a home. A Des Moines Sunday Register investigation found numerous problems with the contract wholesale business, including unpaid taxes, lack of disclosure of hidden costs and inflated sale prices."
Category General
Pages 15
Keywords Polk County;Wolford Group;advertising claims;traditional mortgages;repossession;eviction;outside lenders;credit history;rental properties;loophole for upkeep and repair;Iowa Finance Authority;residential contracts;Legal Aid Society
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