Quimbee logo
DMCA.com Protection Status

Horne v. Harbour Portfolio

304 F. Supp. 3d 1332 (2018)

Case BriefRelatedOptions
From our private database of 35,800+ case briefs...

Horne v. Harbour Portfolio

United States District Court for the Northern District of Georgia

304 F. Supp. 3d 1332 (2018)

Play video

Facts

Private investor groups Harbour Portfolio VI, LP, and Harbour Portfolio VII, LP (collectively, Harbour) (defendants), bought foreclosed properties from Fannie Mae after the 2007–2009 housing market crash and resold them using installment land contracts, also called contracts for deed (CFDs). Often the homes were dilapidated, but Harbour did not make any repairs before resale at four or five times the amount Harbour paid for them. The CFDs carried interest rates at 9.9 or 10 percent and placed all responsibility for repairs, unpaid property taxes, and insurance on the home buyer. Each CFD allowed Harbour to cancel the contract in the event of default, evict the buyer, and keep all amounts the buyer had paid. Demarkus Horne and others who bought homes from Harbour (plaintiffs) sued Harbour for “reverse redlining,” meaning Harbour extended credit on unfair terms based on the borrower’s race and geographic location. The claimants argued that Harbour purchased only Fannie Mae-owned homes in minority neighborhoods, then sold them using only yard signs and word of mouth to intentionally target African Americans, in violation of fair-housing and lending laws. Fannie Mae owned less than a quarter of foreclosed homes sold at the time. In Georgia counties, Fannie Mae homes were in neighborhoods that were 71 percent Black, while non-Fannie Mae foreclosed homes were in neighborhoods that were 48 percent Black. As a result, the claimants argued that Harbour’s predatory lending practices disparately impacted African Americans. Harbour moved to dismiss the suit for failure to state a legally cognizable claim.

Rule of Law

Issue

Holding and Reasoning (Story, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 620,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials
  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 620,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 35,800 briefs, keyed to 984 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 620,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 35,800 briefs - keyed to 984 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership