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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You can get eminent domain'd or your house could be destroyed by natural disaster, house fire, etc.
28 0 ReplyIn 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.
6 0 ReplyYou get a government set rate for the house, not what it could sell for on the open market.
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