posted on Feb, 19 2010 @ 07:54 AM
Brilliant! I love reading stories about the "little guy" getting one over on the banks.
I'll share another one that hasn't made the papers - yet! I know of a guy who was also faced with foreclosure by his bank despite repeated attempts
to refi through the Making Homes Affordable Program. He was repeatedly denied even though he met EVERY requirement laid out by the Obama
Administration. He even attempted several short-sales which the lender denied each and every time. So, being painted in a corner he decided to
employ a different strategy, which I think is simply brilliant.
He moved out of his house into an apartment and began dismantling his home and selling each and every piece and part through Craig's list, ebay,
youpillar etc... Sold his kitchen cabinets, whirlpool tub, vanities, light fixtures, plumbing fixtures, appliances etc... He even carefully removed
his solid hickory wood plank flooring and sold it as well - even down to the trim! When he finished with all of that, he peeled out every piece of
copper pipe and electrical wire and sold it.
It was a beautiful 4K square foot home that he bought for almost $500K about 7 years ago - and he sold every single piece except for the frame, roof
and foundation! He made over $40K doing it, liquidated his retirement accounts and savings and went and bought a very nice, modest 3 bedroom
home and paid cash! Finally, he mailed the keys to the bank along with a note stating: "Here is the key to your house - good luck f**kers!"
According to him, everything he did was 100% legal as the "House" still remains.
I fully expect to start reading more and more and more stories just like this.