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DC News Now, DC lawsuit claims ‘no payment’ home equity deals may function like hidden loans

“A growing number of homeowners are turning to home equity ‘partnership’ deals that promise fast cash without monthly payments. But a new lawsuit filed by the National Association of Consumer Advocates alleges those agreements may not be what they appear.

‘It’s very unlikely people will be able to remain in their home after taking on these types of products,’ NACA Litigation Director Eric Zell told DC News Now.”