In the USA, can you lose your home even after it is 100% paid off?
In the USA, can you lose your home even after it is 100% paid off?
Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?
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Theoretically eminent domain still exists but it’s only used to replace black neighborhoods with highways
27 3 ReplyNot true! It's also used to seize property from existing owners in order to hand it off to private developers (see Kelo v. New London).
28 0 ReplyBut when we want passenger rail we have to buy the land at full price as set by the landowner no matter how much they’re gouging
16 0 Reply
That's not so much losing your home as it is having it forcibly purchased from you at a fair market price. At least in theory.
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