Posted on 01/12/2013 11:17:35 AM PST by DeaconBenjamin
Edited on 01/12/2013 12:38:20 PM PST by Admin Moderator. [history]
COLUMBUS
(Excerpt) Read more at business.financialpost.com ...
Government housing policy under Carter and Clinton pushed lenders to lend to anyone that breathed, we get a bubble, and crap like this happens.
Yet no one blames government.
Stay in the house until they throw you out.
Indeed, stay in the house until the eviction notice comes. Pay your taxes an utilities and keep the place liveable. It’s cheap rent.
Repeat after me:
We are a nation of laws; we are a nation of laws;
We are a nation of laws; we are a nation of laws;
We are a nation of laws; we are a nation of laws;
We are a nation of laws; we are a nation of laws;
We are a nation of laws; we are a nation of laws;
Do you believe?
No. In Obamamerica, who you are determines how the law will be applied to you.
This crap and Gun Control Confiscation may just be the catapult that may start another civil war. How much will the American People will continue to tolerate?
I agree have everything packed incase and put in a storage but continue living in the house.
I wonder can these folks can claim some form of property ownership back if they continue to live on the property. I know if there is a person living on your land they can claim a portion of it. Since they were occupying the land and the owner never bothered to remove them from the premise. I don’t recall the law.
Why would a lender want to foreclose on a house where the prior liens exceed the value of the property? They are better off filing suit on the note (in states where that is possible) and garnishing whatever they can.
If the cities really want the lenders to step up, they will need to start negotiating on taxes, water liens, and code violations. But most big cities are run by socialists that don’t understand economics.
“David Volker found that out the hard way. When the housing market crashed, so did Volker’s contractor business, and he was unable to keep up with payments on his barn-like two-story house in Buffalo, New York. His mortgage servicer, HSBC, foreclosed on the home in 2009. A few months later, while he was staying with his girlfriend, he stopped by the house to find an HSBC padlock on the doorknob and bank stickers plastered across the door.
“Shattered glass covered his front steps. When he crawled through a broken window, he found the place trashed – by whom, he doesn’t know. Even the toilets were gone. Hearing nothing more from the bank, he figured the house was no longer his.
“The place continued to decay. Gutters tore loose from the eaves. The yard turned into a dump for balding tires. Volker’s neighbors started complaining to the Buffalo Housing Court, which eventually tracked down Volker at the rental where the 49-year-old was living and ordered him to appear in court. That’s when Judge Carney told him that he was still the owner.”
So, without ever taking ownership of the property, the mortgage company forcibly denied access to its legal owner to the property (”he stopped by the house to find an HSBC padlock on the doorknob and bank stickers plastered across the door.”), took physical, but not legal possession of the property, and then negligently and criminally allowed the property to be looted.
Sounds like the mortgage company incurred some liability. At least civil. Perhaps criminal.
Most of the time, these homes have been paid for 20x over... and most people living in them wind up paying 500k for a 130k home...They die and the scam starts all over again with the new suckers.
Government, including Barney Frank, cares deeply about the people. Don’t you? :-)
Generally, the occupation has to be open and hostile to the interest of the owner.
I read that you should also take photos/videos of every room in the place as you left it, as well as the outside, with the front page of a local newspaper prominent in every pic. They may claim you used a back issue but they sure as Hell can’t claim a future date.
Search on “Adverse Possession”. The laws vary from state to state.
I wonder can these folks can claim some form of property ownership back if they continue to live on the property. I know if there is a person living on your land they can claim a portion of it. Since they were occupying the land and the owner never bothered to remove them from the premise. I don’t recall the law.
It was quite a racket and it was intended to demolish the American middle class. They need peasants for the NWO.
Yes, agreed and with the other poster too. Pay the taxes, the utilities, just not the mortgage.
Who would do otherwise after reading this story?
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