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, June 06, 2016
On Eve Of Foreclosure, Buffalo Landlord Of 8-Unit Building Coughs Up $58K To Pay Off Back Taxes, Then Loses Premises At Public Auction Next Day Anyway Over Unpaid $2,000 'Back User Fees'; Ultimately Forks Over $92K To Buy Back His Own Property From Winning Bidder
In Buffalo, New York, WIVB-TV Channel 4 reports:
A streak of bad luck put Kevin Judge way behind paying his bills, including Buffalo property taxes, but last October Kevin came up with the money to $58,000 in back taxes on his Park Street property in Allentown, but the very next day, his property was sold at the city’s annual foreclosure auction.
Judge’s apartment building was auctioned off to pay $2,000 in back user fees, which he claims he had no knowledge of–even though Judge had just paid all that money to get his 8-unit property off the auction block.
Two weeks ago, Kevin went to court to try to get his property back, but a county judge instructed him to work out a deal with the buyer, and he did work a deal to pay the buyer $92,000.
It is a lot of money which Judge said he could have used to continue making improvements to the building. Kevin said he has already made substantial investments in the property, “New sidewalks, new walkways, new boilers, new hot water tanks.”
“With the setback of $92,000, I’ve got to see how my finances are, and see when I can get the building looking like I want it to look for this neighborhood.”
Attorneys and others familiar with Judge’s dilemma have said there are simple ways of avoiding this kind of disaster, such as simple notation on your property tax receipt that user fees have to be paid. They say those notations are necessary because property taxes and user fees are paid at different windows at Buffalo City Hall.
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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