Posted on Monday, March 23, 2015 at 2:00 pm CDT
Statistics from the financial sector reveal America's leading banks hold the lion's share of the Ohio housing market at 60 percent; in contrast, the statewide credit score hovers around the 680 mark, falling into the "fair" category of the lending world. This leaves many residents ineligible for bank governed mortgage loans. In an effort to bridge this gap, Ohio followed in the footsteps of numerous other states by offering hopeful homeowners an ohio land contract option. While this is the solution many buyers and sellers are seeking, such agreements pose considerable confusion in their own rights.
Source: Ohio Land Contract Reference Guide