Many aspiring homeowners see a land contract as the answer to their prayers, but mortgage experts and lawyers say they almost always result in financial calamity. “Land contracts and leases with option to buy are both costly and destructive detours that diminish the likelihood that consumers entering these contracts will ever own a home,” said…

Many aspiring homeowners see a land contract as the answer to their prayers, although mortgage experts and lawyers say they almost always result in financial calamity. “Land contracts and leases with an option to buy are both costly and destructive detours that diminish the likelihood that consumers entering these contracts will ever own a home,”…