Testimony of Sarah B. Mancini on Alternative Home Financing Before the Senate Banking Subcommittee on Housing, Transportation, and Community Development
Alternative home financing transactions like land contracts and leases with option to buy have garnered much attention. NCLC’s research has led us to conclude that these alternative transactions do not provide a meaningful pathway to homeownership. Rather, land contracts and leases with option to buy are both costly and destructive detours that diminish the likelihood…