The Pacific Legal Foundation (PLF) released a comprehensive report Tuesday detailing that 12 states plus Washington D.C. have laws in place that allow for home equity theft (HET), including Arizona.
“Our findings are alarming,” said Angela Erickson, strategic research director at PLF. “Home equity theft is robbing thousands of people of their homes and all the equity they’ve built.”
A 92-year-old is fighting in the 8th Circuit Court of Appeals for $25,000 of lost equity in her former Minneapolis condo after Hennepin County seized and sold it to settle a $15,000 tax debt and kept the difference.
Geraldine Tyler moved out of her Minneapolis condo in 2010 because of rising crime but couldn’t pay both her condo’s property taxes and rent on her new apartment.
One in 290 properties in Osceola County, Florida started the foreclosure process during the first quarter of the year – the 16th highest foreclosure rate among U.S. counties with at least 100 foreclosures nationwide, according to an ATTOM Data Solutions analysis of property data. Osceola County’s foreclosure rate was…