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, February 06, 2013
Dilapidated Homes Sold By County Officials At Tax Foreclosure Sales Are Subsequently Being Demolished By Order Of Local City Officials, Leaving Unwitting Homebuyers Caught In Middle
In Jackson, Michigan, MLive reports:
Terrence Hill had spent months working on a new home he thought he'd bought in a Jackson County tax foreclosure sale in September.
He'd sunk $3,000 in the home on Maple Avenue — putting on a new roof, installing brand new carpeting and putting up new drywall. Just new windows would have completed the home, which he planned to rent out.
On Friday, Jan., 18, Hill discovered the city had turned utilities off and claimed the home was on its demolition list. Just three days later, he headed over to the property, only to see a crane tearing down the home he'd worked on for four months. “I just couldn’t believe it,” he said. “I was shocked.”
Hill isn't alone in his confusion.
Homeowners who think they are helping the city tackle blight by purchasing foreclosed homes are finding themselves in a much different fight.
Several homeowners who say they've bought houses in a Jackson County tax sale are seeing their new homes demolished, or scheduled to be knocked down.
***
Although the properties have been purchased from the county, city officials say the structures on them are governed by city housing codes and state building codes.
Buyers also only purchase the deed to a property at tax auctions, this allows the city to demolish them, even if the property is sold by the county, officials said.
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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