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“We Buy Houses”: Market Heroes Or Criminals?, Cori Harvey
“We Buy Houses”: Market Heroes Or Criminals?, Cori Harvey
Missouri Law Review
The residential sale/leaseback/buyback (“RSLB”) transaction is a socially beneficial foreclosure rescue transaction that is being regulated increasingly by the criminal courts to the detriment of the homeowners, investors, and society at large. Because the transaction is being regulated more aggressively with the criminal law, peculiar outcomes arise, which include investors being sentenced, in some cases, to draconian sentences – a trend that will eviscerate the transactions rather than improving them.
“We Buy Houses”: A Foreclosure Rescue As The Solution To The Trapped Homeowner Equity Problem, Cori Harvey
“We Buy Houses”: A Foreclosure Rescue As The Solution To The Trapped Homeowner Equity Problem, Cori Harvey
Missouri Law Review
This Article unveils the logic of these transactions and provides market context, which is often misunderstood and under-appreciated by academics, judges, and the public, who do not understand the value of the transactions to the homeowners who use them and to the communities in which the transactions are popular. Instead, the transactions are met with bias and negative assumptions. Critics often present the exceptions as if they are the rules and falsely stereotype the homeowners in these transactions as elderly, frail, and uneducated. As a result, these transactions are increasingly regulated by criminal law, with convicted investors subject to severe …