I have an account on the Arizona Legislature’s Request to Speak website and will register my support for HB 2445 or ask to speak in favor of it.
If you mistakenly underpay or fall behind on your property taxes in Arizona, an investor can bid for a lien on your home and the right to eventually take it—for pennies on the dollar.
Under current law, homeowners lose everything in this process, including years of equity, no matter how small the tax debt. We found in Maricopa County that 99% of homeowners' equity was stolen in the foreclosure process.
This wealth transfer from poor to rich is unjust and unconstitutional.
Reforms like those in the Equity Prevention Act would prevent anyone from taking more than what the homeowner owed in taxes, penalties, interest, and statutory costs.
Once these debts are paid, the remaining money will be returned to the former owner.
You can help get this reform enacted. Add your name to the list to encourage the legislature to do the right thing and end home equity theft in Arizona.