The place where we live says a lot about us. It doesn't have to be a sparkling mansion on the top of some hill, but it represents stability and achievement and does a lot for our inner confidence and credibility. There is nothing better than the sense of pride that we get when we think of our home and all that we are doing for our family. It's so important to bring up your family in a safe and welcoming neighborhood and to do the right thing for them, within your powers. As we all tend to gravitate to populated areas, the amount of space necessary to build a home is challenged and this inevitably puts a premium on available land. This trend has, over the decades, led to ballooning house prices. This trend has being going on for years and it has contributed to the sad fact that an average home costs way more than a person actually earns in any one year. As sad as it may be, the vast majority of us have to resort to financing in order to consider owning our own home. More than 90% of those that are trying to buy a home in the United States are simply unable to do so with the funds that they have, linked to their own name.

There is such an emphasis on real estate financing in our world, and the ubiquitous credit score has arisen to become a highly important figure, affecting many elements of our lives. People are judged by the quality of their credit score, which is a simple number on a sheet of paper, but is often not accompanied by any notes or explanations to explain why it is, where it is. Conventional moneylenders look at the credit score and not beyond and this behavior is especially prevalent these days. There are many, many reasons why individuals may have lower than average credit scores and many of these reasons may have been beyond their control. It doesn't seem to matter, however, as damaged credit can hang around your neck for years and make it so difficult to find the home that you and your family are craving for.

This is why people are looking for creative forms of home financing, because first time home buyers with bad credit or those who are simply buying a house with poor credit cannot turn to conventional methods. There are many forms of creative home financing. Some involve alternative collateral, where high equity assets, maybe a stock portfolio or valuable vehicle, are traded in return for security of some kind. Another option in many jurisdictions is a land contract. Michigan is just such a state where a land contract is a fully "above board" and acceptable instrument. Land contracts bring two motivated people together – a seller, who might not want to go through the lengthy process of working through conventional selling organizations and a buyer, who may be buying a home with poor credit or with a low down payment. Land contracts allow both parties to negotiate terms, monthly payments and the number of repayments; often the closing costs are paid by the seller. Land contracts are really one of the most creative home buying solutions you can find.

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