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Of course it was a scam from day 1. That's why he only made one mortgage payment. Honest, sincere, yet struggling homeowners would at least have made payments for a couple of years before defaulting.
How much of this situation can be attributable to New York state and the local laws? My understanding is that some states are stricter than others when it comes to residential topics like mortgages, rental agreements and occupancy.
My aunt did a form of this for four or five years during the last mortgage crisis. She was 95 or 96 and had taken out what was basically a second mortgage without having a first. That is, minimal paperwork, no appraisal, etc. Her brother, who was a ****** (gone to prison for it a couple of times), talked her into it. The real estate "empire" he was building for her (LOL) collapsed, and she quit paying. She had no money; I paid her power and telephone bills during this time frame. It was quite the saga as he tried to have her killed as well (went to jail but was released because he was only a few years younger than she was and was dying . . . saves money if you release the dying). After he died, she kept on living there, still not paying.
Banks aren't great at evicting little old ladies, particularly when the house is of minimal value due to current condition and there is a glut of foreclosed homes already. They kept "telling" her that she needed to leave, but it wasn't until her daughter emptied the house and took her back to her home state that the house was surrendered. She was never formally evicted.
My aunt lived to be almost 101. She could probably have died there before they kicked her out.
The whole story is hard to believe. How does someone file bankruptcy 5 times in 2 years? He then files bankruptcy again in 2019 and 2020 with one of his friends filing 4 times in 2019. Are they just filing for bankruptcy but not following through? I don't have experience with bankruptcy.
The house is a huge trash dump. Of course he's not taking care of something he has no stake in. I used to have the same shower curtain in my old house back in 2005 but mine was a different color.
Zillow says a sale is pending. It also says the house was sold in 2018. It's been listed a few times since 2018, gets listed then pulled a few days later. Too bad there isn't much history showing.
By January 2001, he filed his first bankruptcy claim, records show. He went on to file another in November 2001, two in 2002 and one in 2003.
If bankruptcy filings didn’t work, Hanspal simply went to state court seeking relief, sometimes acting as his own attorney, according to an August 2005 order from Nassau County Judge Burton S. Joseph.
Meanwhile, in 2004, Hanspal transferred the deed of the home to a friend, Rajender Pal, even though he had no legal right to do so, according to court papers. Pal, using the Kenmore Street address, filed for bankruptcy in 2005, staving off eviction yet again.
By May 2018, Chase unloaded the property to Diamond Ridge, which offered Hanspal $20,000 to leave. He didn’t take the deal, and instead, filed for bankruptcy again in 2019 and 2020. Another purported occupant of the house, Boss Chawla, filed bankruptcy four times in 2019, as did another resident — allegedly named John Smith — who filed once.
How much of this situation can be attributable to New York state and the local laws? My understanding is that some states are stricter than others when it comes to residential topics like mortgages, rental agreements and occupancy.
Some I'm sure, but given situations I know of in a few other states if one cares to fight the process, they can draw it out for a long time.
How much of this situation can be attributable to New York state and the local laws? My understanding is that some states are stricter than others when it comes to residential topics like mortgages, rental agreements and occupancy.
New York is a Judicial foreclosure state and very pro debtor. It takes a long time to go through the foreclose process there. And that's when everything goes smoothly.
New York is a Judicial foreclosure state and very pro debtor. It takes a long time to go through the foreclose process there. And that's when everything goes smoothly.
I think that if the debtor is willing to fight diligently they all take years.
I think that if the debtor is willing to fight diligently they all take years.
Yes you are correct but 20 / 20+ years is an extreme example and my original point is that it exemplifies the judicial defectiveness of a jurisdiction like New York.
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