Posted on 07/07/2011 9:58:59 PM PDT by Kartographer
Imagine coming back to your home after being away a few weeks and finding the locks changed and the home trashed. That's what happened to Chris Boudreau of Brooksville.
Boudreau showed us the home, which was stripped bare.
Walking through the living room, he tells us "I used to have a couch, a sofa, a couple of end tables, a TV, DVD player, tapes and cabinet... but they are now gone."
It happened after 21 Mortgage Corporation in Knoxville, which is Boudreau's lender, hired a local company to do the job.
(Excerpt) Read more at wtsp.com ...
Well the news article was sure misleading. This was not real estate and RESPA rules wouldn’t apply. Still, if it was a trailer in a lot, why didn’t it get confiscated from the lot and taken somewhere that it could be re-sold? The company left it sitting there.
I'll be curious to see what the outcome will look like. The Laws are not the same for a Foreclosure versus a Repossession.
I know people who were only two months behind on their car payments who had the vehicle repossessed and I know a Homeowner behind a year in his Mortgage who is still in his house.
I guess I can't imagine that this was a big surprise to the Homeowner unless someone had been stealing his mail for three months.
“Still, if it was a trailer in a lot, why didn’t it get confiscated from the lot and taken somewhere that it could be re-sold? The company left it sitting there.”
Either the folks at the mortgage or repo company have really bad case of ADD or he arrived home after they cleared the home of his crap and before they could haul it away.
Yes, I know a homeonwer six months in a arrears, who just received his nastygram, and another, two years and counting, with a bankruptcy. Different rules indeed.
If they broke in and stole his stuff he should just take out a wall or two before he moves leaves.
You're just being an ass. No one is suggesting that.
When you evicted did you steal their personal possessions too or do you reserve that added indignity for trailer trash like the man in this story?
You are legally entitled to personal property left in a car that is repossessed so long as it is not attached (i.e. an aftermarket stereo).
Two wrongs don't make a right -assuming you attended elementary school.
“This deadbeat went on vacation instead of paying his mortgage.”
Judging by the vehicle in his driveway he’s a contractor, possibly a roofer. He may well have travelled to another job site for several weeks. That’s what contractors do when local work dries up. They get in their vehicles and travel to where there is work.
Your comparison to your own experience is irrelevant. You did not do it in a deep recession, likely not even during a recession judging by the multiple jobs available to you at the time.
“If the Lender committed a crime, then the Lender will have to face the consequences”
That’s just it, the Sheriff will do nothing and the courts will not apply justice equally. Our system is corrupt beyond repair.
“If the Lender committed a crime, then the Lender will have to face the consequences”
That’s just it, the Sheriff will do nothing and the courts will not apply justice equally. Our system is corrupt beyond repair.
“And we also know that the mortgage company is not a 501(c)(3).”
This is the interesting part of this whole financial mess.
The concept that not paying your rent, or your mortgage is optional, and you can remain in the property without paying for it almost indefinitely will fundamentally change things for folks - especially those with marginal finances - as the risk that folks simply will not pay has now gone from risk to near certainty.
While obviously many on this thread have it in for folks who provide housing for other people - the concept that a quick foreclosure/eviction actually makes housing more affordable for everyone eludes them.
the world is not a 501 (c)(3). The present situation will fundamentally change how banks loan money in the future and how landlords rent property. Otherwise, nobody on the margins will have a place to live.
“If you want to have compassion for somebody who can’t or won’t make their house payments, then YOU can give them a free house”
Our King Obama is trying to do just that. http://hotair.com/archives/2010/04/14/bankers-obama-loan-modification-plan-will-require-another-bailout/
But unfortunately for us that make our house payments we will have our taxes raised to cover it and the only ones that will qualify for this are the taxtakers in the 47% that get wealth redistributed to them. This guy just didn’t hold out long enough.....
“What’s next? If you are current on your payments, they can come on in to make sure you are “keeping up the house” to their standards?”
What’s next?? How about this?
Our entire system of land title is in a complete mess. No one knows who really owns these homes. We should all be frightened.
My favorite is the people who call into Dave Ramsey who are behind on the mortgage but current on the truck and the credit cards.
Who's arguing that? There are no foreclosure proceedings underway. The issue here is not foreclosure. The issue is, plainly and simply, burglary by someone hired by the bank to commit the crime.
Trumandogz assumed, with nothing to back it up, that this guy is not working. His support for the claim was that if he were working, he would be caught up on his mortgage. I pointed out that that isn't necessarily so.
You lost your job, fell behind on your mortgage payments, and busted your ass to catch up.
This guy lost his job, is behind on his mortgage payments, and is busting his ass to catch up.
Do I have any evidence that he's working at it? Precisely as much as you have when you claim that he's taking vacations or serving time.
“Judging by the vehicle in his driveway he’s a contractor, possibly a roofer. He may well have travelled to another job site for several weeks.”
If he had travelled out of town for work, I’m sure he would have been paid for that work and with that money he earned, he should have made that payment on his doublewide.
“You did not do it in a deep recession, likely not even during a recession judging by the multiple jobs available to you at the time.”
First of all, a rescission does not absolve one of their financial responsibilities. Secondly, I lost my job when the oil field was in a depression causing the lots of people in my area to be out of work. And I managed to do what I had to do to cover my financial responsibilities.
Like you said, this guy was out of town, working hard and somehow still refused to pay that note on his doublewide.
“You were lucky to find sufficient work. Clearly he was not. I imagine it wasn’t in a comparable economy.”
Actually, the economy was much worse.
“When you evicted did you steal their personal possessions too or do you reserve that added indignity for trailer trash like the man in this story?”
No, I would never steal a tenant’s belongings, but when a person is evicted and refuses to vacate the property, I have the legal right to remove their belongings from the house and place them on the sidewalk.
However, I think that the rules for a trailer home, as this guy lived in, are somewhat different from real property.
If he was behind on payments, they should have just put the wheels back on the house and towed it to the repo lot.
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