To protect homeowners, states can classify HEI loans as mortgages subject to consumer protections, require caps on the maximum repayment amount, and mandate counseling for borrowers.
Read More about What States Can Do to Protect Homeowners from Home Equity "Investment" Loans
Remember the subprime mortgage crisis of the early 2000s? One toxic product that contributed to the crisis was the “80-20 mortgage,” where homeowners took out a first and second mortgage simultaneously. When the housing bubble burst, these second mortgages, often held by investors, became worthless. Many homeowners, understandably, believed these second mortgages were dead and…
Read More about Fact Sheet: Protecting Homeowners from Zombie Second Mortgages
In November 2024, a provision in the Economic Development bill (Section 269) created a dangerous loophole for homeowners by granting a blanket waiver of liability for non-profit Shared Appreciation Mortgages (SAMs), stripping away crucial consumer protections and leaving homeowners vulnerable to predatory lending practices. H.3954 / S.731 closes the loophole created by Section 269 and…
Property tax systems can foster sustainable homeownership, be fair and reasonable for property owners, and still provide the revenue needed for quality public services.
Read More about Reforming Property Tax Foreclosure Laws to Promote Sustainable Homeownership
A new report looks at reducing the racial wealth gap by slowing the rate of home loss in communities of color through heirs property.
Read More about Heirs Property Report: How to Prevent Home Loss, Close Racial Wealth Gap
This report highlights and evaluates the efficacy of various laws and policies aimed at helping owners of heirs property, a significant driver of land loss in communities of color.
