Supreme Court delivers victories in home equity and foreclosure cases.
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.
