Localities sell your unpaid bills to investors who foreclose
(NEWSER) - Vicki Valentine's father paid off the mortgage on their home a quarter-century ago, but she's been foreclosed on and evicted anyway, thanks to a $362 unpaid water bill. Valentine's one of a growing number falling prey to “tax sales,” the Huffington Post reports. Basically, the city sold Valentine's debt to an investment bank, which piled on fees and interest until the bill was more than $3,600. When Valentine couldn't pay, it seized the house. More»