Sign up for your FREE personalized newsletter featuring insights, trends, and news for America's aging Baby Boomers

Newsletter
New

Home Equity Theft

Card image cap

My mother and father in law lost their home a few years ago to a predatory company that pays off tax liens. The county sold the house for the value of the back property taxes (less than a couple grand) and they lost all of their equity in the home (a few hundred thousand). The company then flipped it for the full value of the house. They owned the home outright for decades and both are in their 80s. They had to move in a hurry and the whole thing was very traumatic. Lately, I’ve seen a few articles about how the Supreme Court has deemed home equity theft unconstitutional, but I’m kind of struggling to figure out whether there’s any recourse for them since it happened prior to the court’s ruling. Their house was in Nebraska, if that matters. I feel like everyone’s more or less accepted the outcome at this point, but articles like these make me wonder if maybe justice isn’t out of reach after all, given the man’s situation pretty closely mirrors theirs.

submitted by /u/FelineSilver253
[link] [comments]


Recent