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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[–] HipsterTenZero@dormi.zone 27 points 1 year ago (1 children)

You can get eminent domain'd or your house could be destroyed by natural disaster, house fire, etc.

[–] basic_spud@kbin.social 5 points 1 year ago (1 children)

In 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.

[–] snooggums@kbin.social 7 points 1 year ago

You get a government set rate for the house, not what it could sell for on the open market.