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Old 05-02-2021, 12:53 PM
 
3,300 posts, read 1,030,583 times
Reputation: 2949

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A man in Long lsland eluded foreclosure and/or eviction for 20 years with frivilous lawsuits and tried transferring the deed on multiple occassions to others in the house.

https://nypost.com/2021/05/01/ny-man...eclosed-house/

He was foreclosured by the end of his first year in the house only making one payment. The original bank Washington Mutual now gone leaving the new mortgage holders/banks with the issue. One tried paying the "owner" $20K to leave and he refused. One company spent $150K on litigation.

I can't help but think this was a scam from day one. Either he was a grifter or he was coached. Dangerous clowns like this make it harder to get rid of problem people and make it tougher on buyers and renters when scrutinized/assessed for a mortgage or lease

Last edited by anononcty; 05-02-2021 at 01:02 PM..
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Old 05-02-2021, 01:25 PM
 
Location: Arizona
1,754 posts, read 1,465,548 times
Reputation: 2517
He's definitely good at working the system.
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Old 05-02-2021, 01:25 PM
 
Location: Phoenix, AZ
3,581 posts, read 1,879,474 times
Reputation: 9417
I'm not shedding any tears for the lending industry.
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Old 05-02-2021, 01:37 PM
 
Location: NC
7,857 posts, read 10,356,828 times
Reputation: 16648
Quote:
Originally Posted by adjusterjack View Post
I'm not shedding any tears for the lending industry.
You may not shed tears but the rest of buyers shed dollars since someone ends up paying for the cheaters and in the end it’s consumers/honest people.
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Old 05-02-2021, 01:58 PM
 
3,300 posts, read 1,030,583 times
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Quote:
Originally Posted by adjusterjack View Post
I'm not shedding any tears for the lending industry.
Not a fan half the time either but the 'buyer' only made ONE payment in 20 years. That's not a good faith transaction even if it involves big lending and a home buyer.
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Old 05-03-2021, 01:51 PM
 
368 posts, read 126,992 times
Reputation: 1033
It's fine to think the lending industry is greedy and shady and whatever else. If that's how you feel the correct course of action is don't do business with them.

Funny though how some people are perfectly fine with the lending industry when they want to borrow money. Then once I got what I needed they're a bunch of crooks and I don't feel bad about not paying.

Last edited by simplechamp; 05-03-2021 at 02:09 PM..
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Old 05-04-2021, 04:14 AM
 
Location: California
33,153 posts, read 36,681,073 times
Reputation: 29510
I like the part that said there were 3 cars without license plates in the driveway.
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Old 05-04-2021, 06:11 AM
 
3,300 posts, read 1,030,583 times
Reputation: 2949
Quote:
Originally Posted by Ceece View Post
I like the part that said there were 3 cars without license plates in the driveway.
It's like the shell game, who did the original buyer transfer the deed to now.

What I can't believe is the original buyer survived $150k in litigation and/or what should've been an open and shut case. Have to wonder if he has judicial friends in LI even if they are just coaching him in the art of using technicalities. He's probably banking mistakes he finds for the next motion.
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Old 05-04-2021, 09:31 AM
 
Location: Fort Lauderdale, Florida
11,563 posts, read 10,456,939 times
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I have friends who are now going on year 16 of not paying their mortgage. Staved off two foreclosures one by declaring bankruptcy.

They brag about it, we change the subject.
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Old 05-04-2021, 09:58 AM
 
Location: Amelia Island
3,495 posts, read 4,558,820 times
Reputation: 3818
Not to make a long drawn out story but I also have friends who were tremendously underwater as they took a second out to open a business. That business failed about the same time as the housing market crashed. They decided not make both payments so they stopped and as mentioned they were underwater house value wise at that time so selling was not an option.

Fast forward almost 10 years later and they are still in the house without having paid on the mortgage or taxes. Their refinance back before the crash was with one of those fly by nights that eventually got bought out or should I say bailed out by another company and since then it has bounced around even more to different company's. Maybe once a year they get a letter asking them to pay.

The irony of all this is with the market the way it is today, if they had struggled to keep paying the mortgage they would have had a tremendous payout if they sold now as they are in an extremely hot real estate market and could easily get two and a half times for what their mortgage was for very easily.

To be honest they did not use any tactics to stay in the house, they really thought they would be getting notice to vacate shortly after they stopped paying their mortgage.

I know another instance of this with a family member and I wonder how many there are like this in the US that have seemed to just fall through the cracks.
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