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.
Saturday, October 13, 2012
Purchaser Of Recently Foreclosed Home 'Inherits' Unwanted Surprise As Prior Owner's Unpaid Water Bill Leaves Buyer All Wet, Hosed For $1,800
In Tequesta, Florida, WPTV-TV Channel 5 reports:
A telephone call to a local utility provider may have spared a home buyer the responsibility of a nearly $1,800 water bill, housing counselors said.
Linda Albrecht purchased an HOA foreclosure [...] in Tequesta earlier this year. She discovered she was responsible for the previous owner's water bill when she asked the utility to transfer the account to her. "They say I must pay it," Albrecht said. "They won't turn the water on until I pay that bill."
According to housing counselors, home buyers are made responsible for outstanding fees and bills -- unless they learn of them before they purchase a home and are able to negotiate with the seller.
"Without that due diligence, you are stuck in a position where you take title subject to everything of record," said Paul Krasker, founder of the Paul A. Krasker Law Firm. "Anything that can still be of record that wasn't wiped out in the foreclosure is what you're going to take title subject to."
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)
<< Home