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, April 25, 2016
HOA: Real Estate Operator Is Submitting Serial Sham Bids At Public Auctions To Scuttle Lien Foreclosure Sales, Thereby Maintaining Title To Property & Continuing To Skim Rent From Tenant
In Tampa, Florida, the Tampa Bay Times reports:
Two years ago, the homeowners association of Pasco County's Quail Ridge Villas got a final foreclosure judgment against a resident who owed $8,217 in delinquent fees.
At the online public auction, someone bid on the property but failed to pay. Another auction was scheduled, and again the high bidder defaulted. That happened three more times, for a total of five invalid sales in eight months.
The repeated delays hurt the association, which was unable to collect thousands of dollars in fees needed for maintenance and repairs. But they were a boon to HOA Problem Solutions, a Tampa company that had been renting out the house for the whole time that foreclosure proceedings dragged on.
Now, the company is accused of causing the delays itself.
HOA Problem Solutions "is intentionally impeding the judicial process by submitting false bids'' in order to scuttle foreclosure sales and keep collecting rent on the house, Monique Parker, an attorney for Quail Ridge Villas, alleged in a lawsuit filed in Pasco circuit court.
Many other associations have had similar experiences with the firm, Clearwater attorney Brandon Mullis said. He accuses HOA Problem Solutions of an "ongoing scam'' that hurts not only the associations but also the homeowners, renters and honest bidders in foreclosure auctions.
"If what they're doing isn't illegal, it should be,'' he 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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