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.
Friday, April 29, 2016
Unwitting Real Estate Investor Faces Toxic $30K Remediation Tab After Discovering Recently-Purchased Home Suffers From Meth Contamination
In Claremore, Oklahoma, KOTV-TV Channel 6 reports:
A man bought a house in Claremore, only to find out afterward that it had been in a News On 6 story. [...] After Chris Young found our story on a meth bust at the house he bought, he had the house tested. All 12 areas tested came back positive for meth residue.
Now it's going to cost him $30,000 to make it safe again.
"All this flooring has to come out; all this woodwork will come out,” Young said.
He has to replace all the cabinets, the heat and air system and the ductwork. The walls must be specially cleaned then sealed. He had hoped to sell all the possessions to recoup some of his costs, but it all has to be trashed because of contamination.
“Respiratory problems that could last a lifetime... wouldn't want that to happen to my family or anybody who buys a home from me,” he said.
The worst area is upstairs where deputies say the meth was being made, with only a tiny vent in the window. The children's bedrooms were just a few feet away. Three children were removed from the home when deputies arrested their parents and grandmother.
The bottom line? If you buy any house, especially in a short sale or foreclosure, it's worth the money to have it tested, which could save you a lot of money or health issues down the road.
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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