Supreme Court delivers victories in home equity and foreclosure cases.

1 min read
Source: WOWT
Supreme Court delivers victories in home equity and foreclosure cases.
Photo: WOWT
TL;DR Summary

The U.S. Supreme Court has ruled that the practice of home equity theft, where private investors keep all the profits after selling a home due to unpaid taxes, violates the constitutional rights of property owners. The decision affects homeowners in 12 states, including Nebraska, where a bill is awaiting final approval to end the practice. The case centered on a 94-year-old woman who lost $25,000 in equity, and a spot check found 9,000 homeowners who lost over $800 million. The ruling is being hailed as a victory for property owners, especially seniors who could lose their homes and life savings.

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