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, July 08, 2013
Homebuyer Who Paid $160K To Purchase Foreclosed REO Inherits Pre-Existing Squatter, Can't Move In
In Lake Worth, Florida, WPEC-TV Channel 12 reports:
An outrageous story about Lake Worth homeowner who purchased a house back in April, but he can't even get into the home because the people that have been living there are refusing to get out.
It all started several years ago when the home at 5035 Woodstone Circle went into foreclosure. The bank took it over, but the people who were renting from the owner never moved out.
Now the house has been sold, and believe it or not, the new owner can't move in.
Marilyn Rodriguez, the president of the neighborhood association, is fed up with the people who refuse to get out. "This person is squatting and it seems like he has more rights than the new owner," said Rodriguez.
Even though the new owner closed on the house in April and paid $160,000, he can't move in. Believe it or not, the squatters actually have rights according to foreclosure defense attorney Anisha Atchanah with Ice Legal.
"As the owner of the property you've got to file a cause of action to the court and prove your case," said Atchanah. "It is very bold, very bold on part of squatter to think they have entitlement to property. It is a huge problem."
Rodriguez and other neighbors agree. "This is ridiculous, it's absurd that in this day and age the new owners has to petition the court and go through all this rigamarole to occupy the house that he purchased."
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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