Posted on 10/13/2010 4:57:31 PM PDT by SmithL
Just two days ago, I blogged about how title insurance may play a big role if foreclosed homeowners should come back to haunt the banks by trying to reclaim ownership. This issue particularly strikes a cord with me, as I became a homeowner recently - purchasing a property a bank had foreclosed on.
Well, what I imagined could happen had already happened last Saturday. Down in Simi Valley, a suburb of LA, a family broke back into the house that the bank had taken away from them. With the local ABC news film crew invited to the move/ break-in, the family of 11 reclaimed the house they say they were illegally evicted from. The scary part is that the vacant home had already been sold to new owners.
A family claims they were illegally evicted, and Saturday, they broke the locks and started moving back in even though the home has already been sold.
Jim and Danielle Earl, along with their nine children ranging in age from 3 to 23, returned to their house of nine years on Mustang Drive.
(Excerpt) Read more at sfgate.com ...
I'll play your silly game.
Do you think it's OK to live in a house you haven't been paying for and have no intention on paying for because you disagree with the bank after you signed the contract agreeing to make the payments?
Do you think it's OK to commit burglary?
No. What makes you think they did?
Do you think it's OK for someone to take out a loan to buy a house, stop making payments, then claim that they bank committed fraud when they were evicted?
The evicted homeowners are accusing the bank of fraud.
The Earls said they had been working with the bank to catch up on payments, but discovered a $25,000 difference between the amount they thought they owed and what the bank claimed they owed so they stopped making payments
They weren't making payments and then decided that there was a discrepancy so they really stopped making payments.
Just because you accuse the banks of committing fraud doesn't make it so.
What’s missing in the story is a statement from the family saying they have the receipts from their timely mortgage payments.
“No. What makes you think they did? “
Because the banks have admitted their employees did not actually read the documents they submitted to the courts.
Documents which are sworn statements stating they have knowledge of the case and that they are true and factual.
Perhaps you would accept the statements of the AGs from numerous states that have been all over the news. Statements where the AGs call it fraud, perjury and forgery.
Fraud because they gave false documents to the courts.
Perjury because they did so as licensed attorneys who now admit they did not do what they they swear (under penalty of perjury) that they did do (read the docs).
Forgery because they signed the names of other people on the documents. Everyone from the homeowner to officers of the banks had their signatures forged.
Evict someone, but first prove you have the lawful right to take such action. Or perhaps you just think the banks would never do anything wrong.
“I’ll play your silly game.”
The laws against perjury, fraud, and forgery are silly? Wow, so you’re an anarchist.
I don't think the bank was the one committing fraud here. I would love to see what the stated income on the loan application was...
“Uh, you think it would still have happened if the CRA wasn`t crammed down their throats?”
How many loans were under the CRA?
Sure CRA created bad loans. The banks were lining up to make every bad loan they could. Because they were turning around and selling the loans as AAA rated securities.
Banks didn’t care if the borrower had any money to repay the loan. They discovered a pyramid scheme and were soaking it for all it was worth.
If a judge signs a search warrant without first reading the warrant and the cops find a dead body and charge the perp with murder, should the charges be tossed because the judge did not read the warrant like he said he did?
OOOoyyy VAyyy! deees law ting eees geeving freepers secch a heeed ache!
Only if there’s a pit bull found in the house.
Just think of all the money the “owners” took out of this house. Now they want the house back.
Welcome to the Banana Republic of the USA. This is Third World rules and thinking.
Just think of all the money the “owners” took out of this house. Now they want the house back.
Welcome to the Banana Republic of the USA. This is Third World rules and thinking.
First, let me say that if you make a deal stick to it.
With that said it is not only possible it is likely that these people are on very firm legal footing. Not only is it likely that they own the house unencumbered it is likely that the lenders allowed this because they wanted to save a few bucks. I just saw the following on Free Republic and it is astounding to me.
http://www.freerepublic.com/focus/f-bloggers/2607008/posts
This is a nightmare and has the potential of melting down the entire financial system. It is insane!
Smells like a sewer doesn’t it?
?? There’s no pit bull angle here...
If your were qualified within your means and you fell into a scrape or some hard times? Call the lender; they'll be happy to work with you WITHOUT altering the loan. People can still keep up within reason through some hard times if they DON'T let their payments fall into arrears (60 days overdue).
The one's who took mortgages the KNEW they could not afford (c'mon, you KNOW when you're over-spending on a ticket itme like that) and/or did the "second" thing when they were just making it in the first place...Not much sympathy.
Nice dodge, but you are making the same argument that leftists have made in the criminal law setting. If a single technical error is made in a criminal investigation, then all charges should be dropped. Fruit of the poisonous tree, etc.
Sorry, as much as you would like it to be so, you don’t get to have a free house because some $12 an hour bank employee signed some papers without reading them first. Now who knows, maybe Obama and the other leftist scumbags will change the rules so every fraudster who ever lied to get a loan now gets a house free and clear... Only thing is it will destroy what is left of this economy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.