Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Wednesday, July 25, 2012
Judge Slams Brakes On Condo Lien Foreclosure Where HOA Pocketed Substantial Payment From Delinquent Unit Owner, Then Failed To Tell Court
In New York City, Habitat Magazine reports:
Most condominium boards and their managers and attorneys act in what they perceive to be the best interests of their condo associations. But when one Manhattan board in an arrears foreclosure tried to not let the owner pay, and then tried to not tell the court when it did let the owner pay, the judge called the board's actions "inexplicable." You really, really don't want a judge to say that.
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Judge Joan A. Madden, in her July 10, 2012, decision rejecting the board's request for summary judgment, scathingly wrote that, "Even though [the board's] Updated Tenant Ledger clearly shows that defendant made a $7,397.91 payment … [the board] simply seeks the relief … without mentioning such payment and acknowledging that defendant satisfied a substantial portion of the lien for unpaid common charges ... [or that the board] has been charging defendant for 'legal fees.' ... [The board's] silence as to the foregoing payment and charges is inexplicable."
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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