By: Colin Allen, Executive Director of the American Property Owners Alliance
The American Property Owners Alliance has spent the past few months calling on policymakers to protect property owner rights and make homeownership more accessible for Americans. We’re also focused on sharing information and resources to help home buyers position themselves for financial success throughout the homebuying process.
Read more about The Alliance’s recent involvement in the home equity theft debate, supporting legislation to increase the supply of affordable homes, and educating homebuyers during Financial Literacy Month.
Combatting Home Equity Theft
Recently, The Alliance worked in conjunction with the National Association of REALTORS® to oppose home equity theft, a practice currently legal in 12 states and Washington D.C. On April 26, the Supreme Court heard oral arguments in Tyler v. Hennepin County, a Minnesota case examining the practice of home equity theft.
The Alliance filed an Amicus Brief emphasizing what is at stake for property owners in this case and the importance of ending an unethical practice. Where home equity theft is legal, the government can take more than what it is owed in property taxes in the instance of foreclosure. Home equity theft affects thousands of Americans each year as has a disproportionate impact on elderly populations. Pacific Legal Foundation—who is defending the petitioner in Tyler v. Hennepin County—found more than $860 million in life savings has been lost to home equity theft in communities across the country.
Property ownership is an important path to build wealth and home equity theft leaves individuals at risk of losing the equity they’ve built over a lifetime. We’re calling on policymakers to find solutions that will protect the equity that property owners have built by closing all loopholes that allow home equity theft. Read more about The Alliance’s involvement in the case and the path to end home equity theft.
Supporting Solutions to Put More Homes on the Market
America is facing a severe housing shortage that demands immediate solutions to increase the supply of available homes and curb rising home prices. Right now, there is bipartisan legislation that could expand access to homeownership in communities that need it most.
The Neighborhood Homes Investment Act would create new incentives to develop and renovate family homes to address the severe shortage of middle-income housing. Homebuyers deserve a pathway to sustainable homeownership and neighborhood stability – and the NHIA will help achieve that. It’s time for action, learn how policymakers can take action to increase available homes on the market.
Advocating for Financial Education During Financial Literacy Month
Purchasing a home is a significant financial decision that requires preparation, planning, and financial education. From financing resources to budgeting tools and guidance from licensed real estate agents, we’re bolstering financial education and advancing housing policy solutions to set up first-time buyers for success.
The American Property Owners Alliance recently partnered with the Douglass Leadership Institute to hold an event in Charlotte, NC gathering industry experts and residents for a conversation on building wealth and preparing for homeownership. We focused on building a positive credit history, strategies for building equity through homeownership, and how to protect the equity you’ve built. Preparing for homeownership begins long before you start looking for a home. Check out our Financial Education Hub to see what free and low cost resources are available to help you achieve your financial goals and how we can increase support for first-time buyers.
For more updates, news, and resources, follow me on LinkedIn and Twitter.
Colin Allen, Executive Director
About the American Property Owners Alliance
The American Property Owners Alliance
is a nonprofit, nonpartisan organization created to protect and support property owners. The Alliance educates property owners on federal issues, laws and policies; to advocate for owners’ rights and interests; and to mobilize when necessary to secure those rights and interests. The Alliance is primarily funded by NAR but operates independently from the association with its own board of directors and separate bylaws.
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