ProPublica
•79% Informative
Abdinoor Igal , a 37-year-old long-haul trucker, had saved for a house for years .
Like many practicing Muslims , he avoided paying or profiting from interest as a matter of faith.
In 2022 , he heard there was a new, interest-free way to buy a house using a financial instrument called a contract for deed.
But less than two years later , Igal ’s dream collapsed. After struggling to make the nearly $5,000 payments each month , he handed keys to the house, which he had agreed to pay more than $700,000 for, back to the seller.
Minnesota bill would require required disclosures on contracts for deed.
It would give homebuyers 10 days after receiving all disclosures to cancel their contract.
If they default, they must receive a 30-day notice from the seller and have 90 days to catch up on payments before eviction.
The bill is expected to be first heard in the Minnesota Senate's Housing and Homelessness Prevention Committee .
VR Score
79
Informative language
76
Neutral language
72
Article tone
informal
Language
English
Language complexity
45
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
7
Source diversity
5
Affiliate links
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