Home sellers step up as last-resort lender to poor-credit buyers

Home sellers step up as last-resort lender to poor-credit buyers

…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.

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