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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.
Maybe. But, how many folks have FOUR people they can convince to claim the house as their residence and file for bankruptcy? It isn't a breakdown of the judicial system so much as it is a well orchestrated, organized con that's uncommon enough that it's hard to defend. Average foreclosure timeline in NY State is something like 15 months.
I would have to say these were not "common criminals" but rather very clever, sneaky criminals. I agree that a system that would allow this needs drastic reform. While I am not a fan of the big banks, I do not condone this type of fraud.
Every time they try to make it "idiot proof", society creates a bigger idiot.
I would have to say these were not "common criminals" but rather very clever, sneaky criminals. I agree that a system that would allow this needs drastic reform. While I am not a fan of the big banks, I do not condone this type of fraud.
Every time they try to make it "idiot proof", society creates a bigger idiot.
Drastic Reform? How about a two or three line change in the foreclosure or eviction or bankruptcy codes.
They were clever and sneaky and organized. But I'll tell you that it isn't something that most people could pull off no matter their intelligence and lack of morals. It would involve ME declaring bankruptcy several times, but ALSO convincing three roommates to do so, over a long time period. It's just not something that happens easily or normally.
I would have to say these were not "common criminals" but rather very clever, sneaky criminals. I agree that a system that would allow this needs drastic reform. While I am not a fan of the big banks, I do not condone this type of fraud.
Every time they try to make it "idiot proof", society creates a bigger idiot.
Agree, fully professional criminals who knew exactly what they were doing. Got to wonder what if they have a regular and normal job of some kind. Evading the banks and foreclosure doesn't pay all the bills.
Agree, fully professional criminals who knew exactly what they were doing. Got to wonder what if they have a regular and normal job of some kind. Evading the banks and foreclosure doesn't pay all the bills.
Probably owns a legal cash business of somekind. If he's not paying taxes he could have a low income. Especially if he wants to blow off the utility bills. Some know how to time the difference between being late then going into an eviction foreclosure process. I know others who tried keeping a rather expensive car by waiting until the second or thid notice of being late on payments and wound up paying a bill once every 59 days. The car was still repoed. He said he thought he had it timed right. It's literally a game to some people. Us vs them.
Probably owns a legal cash business of somekind. If he's not paying taxes he could have a low income. Especially if he wants to blow off the utility bills. Some know how to time the difference between being late then going into an eviction foreclosure process. I know others who tried keeping a rather expensive car by waiting until the second or thid notice of being late on payments and wound up paying a bill once every 59 days. The car was still repoed. He said he thought he had it timed right. It's literally a game to some people. Us vs them.
I knew a guy that would routinely be sued, then show up to court, and often as not, would get it dismissed as the debt-collector attorney's didn't actually expect people to show up and argue. A game.
About 40 times he's changed attorneys right before his court dates.
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