this post was submitted on 04 Dec 2023
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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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[–] [email protected] 14 points 1 year ago (1 children)

I feel like you had additional context to this question that you meant to add, but just totally forgot.

As it stands, yes of course. If your house in condemned or otherwise subject to eminent domain, if your house is seized to pay creditors for non-mortgage debt (in some states), if somebody else has superior title to your home and you aren’t protected by being a bonafide purchaser, etc.

[–] [email protected] 7 points 1 year ago (5 children)

Natural disasters and other "acts of god" are becoming more relevant - especially as some states, like Florida, have more insurance companies pulling out. Flood insurance is often unaffordable too.

[–] [email protected] 2 points 1 year ago (2 children)

Wait, are Floridian companies really doing that? Do you have a source?

[–] [email protected] 7 points 1 year ago

https://www.cbsnews.com/miami/news/why-homeowners-insurance-is-spiking-options-are-shrinking/

Climate change means worse weather and more storm damage. Insurance companies need to make money off the deal so they raise rates or stop insuring properties.

[–] [email protected] 1 points 1 year ago

https://www.newsweek.com/florida-insurance-crisis-explained-1812418

That’s just one of the first I found, I’m sure there are more recent ones.

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago)
[–] [email protected] 1 points 1 year ago

Which really highlights how stupid and funny the "act of god" line is

So has he just randomly decided recently that he wants to spend more time fucking up people's houses or is it maybe that it wasn't just collateral damage of some benevolent beings plans and maybe there's a a more concrete basis for why these weather events occur.

[–] [email protected] 1 points 1 year ago

Flood insurance is 100% unaffordable. Even insurance companies are subsidized by the government for flood.

[–] [email protected] 1 points 1 year ago

It is happening in California too because of all of the wild fires mostly.