A Cool Dude@lemmy.ml to Asklemmy@lemmy.ml · 7 months agoIn the USA, can you lose your home even after it is 100% paid off?message-squaremessage-square133fedilinkarrow-up1147arrow-down14file-text
arrow-up1143arrow-down1message-squareIn the USA, can you lose your home even after it is 100% paid off?A Cool Dude@lemmy.ml to Asklemmy@lemmy.ml · 7 months agomessage-square133fedilinkfile-text
minus-squareHipsterTenZero@dormi.zonelinkfedilinkarrow-up32·7 months agoYou can get eminent domain’d or your house could be destroyed by natural disaster, house fire, etc.
minus-squarebasic_spud@kbin.sociallinkfedilinkarrow-up7·7 months 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-up7·7 months 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.