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Valerie L. Hletko Quoted in The New York Times Article, “How a Home Bargain Became a ‘Pain in the Butt,’ and Worse”

The New York Times

Valerie L. Hletko

Valerie L. Hletko was quoted on July 7, 2017 in The New York Times article, “How a Home Bargain Became a ‘Pain in the Butt,’ and Worse,” which discussed the City of Cincinnati’s suit against Harbour Portfolio Advisors, a Dallas-based investment firm that sells contracts for deed, high-interest self-financed deals that act as installment plans for housing. The article cited the city’s attempts to hold Harbour accountable for failing to maintain dozens of homes in the city and failing to pay more than $360,000 in unpaid fines and fees. But Harbour has pushed back, contending that it had sold many of those homes — often with existing long-term installment contracts in place — to other investment firms. Harbour “sold most of its homes and contracts to a wide array of investors, including hedge funds, small investment firms, mom-and-pop investors and even one Bitcoin entrepreneur from Canada, Haseeb Awan, who referred to his small investment in contracts for deeds as ‘gambling money.’”

Hletko, who represents Harbour stated that that the buyers of the contracts were “sophisticated real estate investors who are fully informed about the properties and transactions.”

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