The Spectre@lemmy.ml to Asklemmy@lemmy.ml · 1 year agoIn the USA, can you lose your home even after it is 100% paid off?message-squaremessage-square135fedilinkarrow-up1148arrow-down14file-text
arrow-up1144arrow-down1message-squareIn the USA, can you lose your home even after it is 100% paid off?The Spectre@lemmy.ml to Asklemmy@lemmy.ml · 1 year agomessage-square135fedilinkfile-text
minus-squareHipsterTenZero@dormi.zonelinkfedilinkarrow-up31·1 year agoYou can get eminent domain’d or your house could be destroyed by natural disaster, house fire, etc.
minus-squarebasic_spud@kbin.sociallinkfedilinkarrow-up7·1 year agoIn theory, in the case of eminent domain you get the value of your home paid. In practice… its often not enough to actually buy a similar house.
minus-squaresnooggums@kbin.sociallinkfedilinkarrow-up7·1 year agoYou get a government set rate for the house, not what it could sell for on the open market.
You can get eminent domain’d or your house could be destroyed by natural disaster, house fire, etc.
In theory, in the case of eminent domain you get the value of your home paid. In practice… its often not enough to actually buy a similar house.
You get a government set rate for the house, not what it could sell for on the open market.