Foreclosure Free-For-All In The District
For several decades now, the D.C. government has sold the debts of homeowners behind on tax bills to private investors, who can then charge sky-high interest rates and fees and even foreclose on the properties. A Washington Post investigation revealed that hundreds of homes have been lost to foreclosure, including dozens with owner tax debts of less than $500. Legislation to address some of these issues was introduced last year, but is still pending. We explore the issues at play.