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.
Monday, September 10, 2012
Adverse Possession-Claiming Squatter Hijacks Vacant Home, Refuses To Budge Days After Homeowner Takes Bank's 'Cash For Keys' Offer & Moves Out
In Houston, Texas, KTRK-TV Channel 13 reports:
One local woman is locked in a real estate headache. She moved out of her home to avoid foreclosure and now she says someone is squatting in her former house. That's causing big problems with the mortgage company.
Days after she moved out, Katrina Collins says she got a call from her mortgage company, questioning her as to who she let move into her home. She had no idea what they where talking about. Now she knows. They're squatters refusing to leave.
Collins moved out of her home of 14 years last month. Days later, she discovered a squatter had settled in and refused to leave.
"She said, 'I'm not going to argue with you, but I'm not going anywhere. If you want me out you need to evict me.' That's what she said to me," Collins told Eyewitness News.
Collins was in a financial bind and to avoid foreclosure she agreed to a "deed in lieu." The mortgage company paid her $2,000 to relocate and they took possession of the home. After she moved out, the mortgage company learned someone else moved in, and even brought the family pet.
"I got a call from the mortgage company asking me had I leased out the property because there was someone living here that said that they were leasing the property from me," said Collins.
The squatter wouldn't come to the door, but claimed to Collins she filed adverse possession on the home. It's a real law, but doesn't allow for someone to just move in.
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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