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10 Foreclosure Horror Stories That Will Blow Your Mind

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posted on Feb, 25 2013 @ 05:35 PM
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It just doesn't seem to be getting any better does it? After the last fiasco in which so many foreclosures were proven to be fraud committed by the banks, we still have this crap going on. People losing their homes with no way to fight because many times they don't even know who is doing it. Let's not forget the robo-signers either.

Follow the link for more of these criminal activities.

www.activistpost.com...

#1 This week, Christine Frazer and her family were thrown out of the Atlanta home they’d lived in for 18 years, at gunpoint in the dead of night. They were not set upon by robbers, but by the Dekalb County Sheriff’s department, which evicted the family at the request of Investors One Corporation. As Steven
Rosenfeld reported for AlterNet, it was the fourth company to buy the family’s mortgage in eight months.

And even a house that was paid for in cash shows just how corrupt the system truly is.

#8 Charlie and Maria Cardoso are among the millions of Americans who have experienced the misery and embarrassment that come with home foreclosure. Just one problem: The Massachusetts couple paid for their future retirement home in Spring Hill with cash in 2005, five years before agents for Bank of America seized the house, removed belongings and changed the locks on the doors, according to a lawsuit the couple have filed in federal court.

I like this one.


#9 30-year-old Steve Doak told deputies he was recently served with foreclosure papers and wanted to destroy the house rather than turn it over to the bank. The sheriff’s office says Doak drove the vehicle into fencing and then into the rear of the house.

And even better...


#10 Another very frustrated homeowner literally bulldozed his own home… “The average homeowner that can’t afford an attorney or can fight as long as we have, they don’t stand a chance,” he said. Hoskins said he’d gotten a $170,000 offer from someone to pay off the house, but the bank refused, saying they could get more from selling it in foreclosure. Hoskins told News 5's Courtis Fuller that he issued the bank an ultimatum. “I’ll tear it down before I let you take it,” Hoskins told them. And that’s exactly what Hoskins did.


Just remember to lock your doors because the criminals out to steal a few items from your house are nothing compared to the ones who want the entire house and the dirt it sits on.

Remember...We are human beings and not just numbers on a spread sheet for criminal financial institutions to play with. If someone is in default through a fault of their own I get it. For these mobster bankers to create the fault is quite another.

BUT...It's never acceptable that these criminals can use local law enforcement to carry out their dirty work. The same LEO's that are paid by the citizens in the first place.

Peace


edit on 25-2-2013 by jude11 because: (no reason given)




posted on Feb, 25 2013 @ 05:53 PM
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reply to post by jude11
 


Sheriffs have no business, being the enforcers of corrupt banks! If they feel the law is iffy and unjust they need to refuse to do what the bankers tell them!

I live in a small town, which hold the county courthouse and guess what our sheriffs department does?????

They protect the judges at the courthouse.

They serve papers to citizens of our county who are being sued by banks!!!!

They transport prisoners to and from the courthouse from the county jail, which by the way is DIRECTLY across the street from the courthouse!

What a waste of tax payers money! Any Sheriff department who complies with throwing people out of their homes IMO, needs to be dealt with by the citizens whom elected these criminals into their office!



posted on Feb, 25 2013 @ 06:17 PM
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I lost my home to foreclosure in 2004. I had a buyer for it, who had already procured financing and were ready to go.

Upon informing my financial institution that I had a buyer, and that I needed the payoff amount, they suddenly wouldn't return my calls or faxes. I tried for a few weeks to get these creeps to respond to me, and one day I came home, and the locks were changed, and they had seized property that I had left in the house. I had a feeling they were going to pull a fast one because neither I nor my real estate agent could contact them and get a payoff amount, so I started moving most of my stuff out into a new place, but there was still a lot left in there that I can never get back, including old keepsakes.

The crooks who did this? Ameriquest.

A few years ago, after remarrying and living with my new husband in his house, we found ourselves struggling in an upside down mortgage. My name wasn't on the mortgage, thank goodness. He was laid off as part of his company's downsizing and my piddly job wasn't cutting it. The neighborhood had become half-empty, as people were abandoning their houses. These houses became rental houses for seedy people and one became a college frat house. Needless to say, there went the neighborhood....and the value. Graffiti, robberies, and cars being vandalized suddenly became the norm.

We tried for a year to sell it, but people wanted to pay the price that the foreclosed house next door went for. Remembering the sting I received from Ameriquest, I felt no guilt when we picked up and moved far away.

Bank of America kept calling. Hubby kept telling them, they had created the housing bubble, they had created the upside down environment, and they should just take the house. So they said fine. They would take it in a few months. We got the paperwork saying they would. That time came and went, and they never foreclosed. They kept calling, starting at 8 am, and wouldn't let up until 9 pm, every day of the week.

Finally, they were told that they were being recorded because it had turned into harassment. Their response?
"You can't record us". When told that they say right off the bat that they were recording the conversation, they said that they were allowed to record us, but we weren't allowed to record them. They were told that they were being recorded due to them harassing us, well after they sent us the final foreclosure papers. So they stopped, because we were fighting back.

They waited an extra year before finally taking the house.

Most people would say that it was a bad thing to walk away from a financial obligation. Normally I would agree, but not in this case. These mortgages are insured, and they get twice the amount from a foreclosure than they do if somebody pays their mortgage on time every month until it is paid for.

Our house now is paid for in full, in cash, and no bank was involved in the sale process. We keep the paperwork handy just in case a bank tries to pull a foreclosure on us. That's how crazy it has become.


+5 more 
posted on Feb, 25 2013 @ 06:25 PM
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I lost my home a few years back. It caused a divorce after twenty years of marriage and a nightmarish life of insecurity ever since.

I am 50 years old and I will never recover from this. After a lifetime of working hard and playing by the rules.

Thank God the government bailed the banks out though!! I would hate to see them not make huge profits at the cost of human peace of mind. If we have a worldwide revolution these bankers need to be put to death very slowly. We need to set an example for the ages, so this never happens again.



posted on Feb, 25 2013 @ 06:27 PM
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Originally posted by FissionSurplus
I lost my home to foreclosure in 2004. I had a buyer for it, who had already procured financing and were ready to go.

Upon informing my financial institution that I had a buyer, and that I needed the payoff amount, they suddenly wouldn't return my calls or faxes. I tried for a few weeks to get these creeps to respond to me, and one day I came home, and the locks were changed, and they had seized property that I had left in the house. I had a feeling they were going to pull a fast one because neither I nor my real estate agent could contact them and get a payoff amount, so I started moving most of my stuff out into a new place, but there was still a lot left in there that I can never get back, including old keepsakes.

The crooks who did this? Ameriquest.

A few years ago, after remarrying and living with my new husband in his house, we found ourselves struggling in an upside down mortgage. My name wasn't on the mortgage, thank goodness. He was laid off as part of his company's downsizing and my piddly job wasn't cutting it. The neighborhood had become half-empty, as people were abandoning their houses. These houses became rental houses for seedy people and one became a college frat house. Needless to say, there went the neighborhood....and the value. Graffiti, robberies, and cars being vandalized suddenly became the norm.

We tried for a year to sell it, but people wanted to pay the price that the foreclosed house next door went for. Remembering the sting I received from Ameriquest, I felt no guilt when we picked up and moved far away.

Bank of America kept calling. Hubby kept telling them, they had created the housing bubble, they had created the upside down environment, and they should just take the house. So they said fine. They would take it in a few months. We got the paperwork saying they would. That time came and went, and they never foreclosed. They kept calling, starting at 8 am, and wouldn't let up until 9 pm, every day of the week.

Finally, they were told that they were being recorded because it had turned into harassment. Their response?
"You can't record us". When told that they say right off the bat that they were recording the conversation, they said that they were allowed to record us, but we weren't allowed to record them. They were told that they were being recorded due to them harassing us, well after they sent us the final foreclosure papers. So they stopped, because we were fighting back.

They waited an extra year before finally taking the house.

Most people would say that it was a bad thing to walk away from a financial obligation. Normally I would agree, but not in this case. These mortgages are insured, and they get twice the amount from a foreclosure than they do if somebody pays their mortgage on time every month until it is paid for.

Our house now is paid for in full, in cash, and no bank was involved in the sale process. We keep the paperwork handy just in case a bank tries to pull a foreclosure on us. That's how crazy it has become.


I'm in Canada and I won't go into the details but I also lost a property due to corruption of the banking system.

I feel your pain.

Peace



posted on Feb, 25 2013 @ 06:36 PM
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Originally posted by LoneGunMan
I lost my home a few years back. It caused a divorce after twenty years of marriage and a nightmarish life of insecurity ever since.

I am 50 years old and I will never recover from this. After a lifetime of working hard and playing by the rules.

Thank God the government bailed the banks out though!! I would hate to see them not make huge profits at the cost of human peace of mind. If we have a worldwide revolution these bankers need to be put to death very slowly. We need to set an example for the ages, so this never happens again.


I'm also 50 yrs old and have suffered the same.

I'm climbing back but...I'm getting tired.


I guess that's what they want.

Peace



posted on Feb, 26 2013 @ 03:49 AM
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#5 Sometimes a big bank will kick someone out of their home and then never actually take possession of the house. As a result, many former homeowners now find themselves stuck with thousands of dollars of unpaid bills. For example, a recent CNN article told the story of Rose Nathan, a 37-year-old office manager…


This is #5 from the article linked in the OP. This one chilled me to my bones. This is a very common practice. Most of the time when a foreclosure goes into escrow, the deed isn't in the bank's name....and that can be a very long time.



posted on Feb, 26 2013 @ 03:56 AM
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How does a bank seize a house that is owned free and clear?



posted on Feb, 26 2013 @ 05:22 AM
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Do your homework, read the fine print, deal locally as much as possible, believe nothing a banker tells you and keep a real estate lawyer on retainer. It doesn't cost as much as you might think. I'm not defending the practices that lending institutions are doing, but I see a lot of homeowners not doing enough to protect themselves from those practices. We all know it happens so we all need to be proactive in taking steps to protect ourselves from it. A house purchase is probably going to be the biggest investment a private individual is ever going to make. You need to take it seriously

If all else fails, and you're married, only put one name on the paperwork when buying a house. What I'm about to tell you is something a lot of people do. And it's legal. Every property has taxes you have to pay. Many people go through changes during the course of their 15, 20 or 30 year loan to where they can no longer afford both the mortgage AND the taxes. If you see that being the case for you, forgo paying the taxes. ( Unpaid taxes will show up on your credit score but, unlike mortgage payments, the amount owed doesn't matter. It won't be as much of a hit. ) When you default on something like that, more times than not, the county where the house is gets the house because of the unpaid taxes. Not the bank. Those are 2 separate payments. When this happens a tax sale is held. Whoever buys the house buys it for the amount of taxes that are left unpaid. Different counties are going to have different thresholds as to how much you cannot pay before the county takes possession.

When the house is bought by your significant other, or someone you trust and can do business with, whose name wasn't on the original paperwork and didn't take a credit score hit you are more than likely going to be dealing with the same bank to pay of the remainder of the original loan. In some cases though, which is even sweeter, you're going to be buying the house, free and clear of any banks and future mortgages, for the amount of unpaid taxes. ( This is where a lawyer comes in handy ) If that's not the case, knowing the banks, a new loan is going to be modified from the original for a fresh term. It's less paperwork then drawing up a new one altogether. Say you took out a 30 year loan and didn't pay your taxes for 5 years. A new 30 year loan can be drawn up. Now, while it may seem that you didn't make out financially because you still have to pay the taxes left and a new mortgage, you're right. What you did however was put the whole process off by 5 years.

You bought time.

Banks are not the only one's who can get "creative" with the financing. This is a loop hole in most areas that is likely never going to be closed anytime soon simply because the taxes are more of a governmental issue on the county level, whereas mortgage payments are issues with lending institutions. Private enterprises.

Keep in mind that what I just laid out won't work verbatim all across the country. Different regions have different laws. This wasn't a "blanket solution" that will work everywhere, but it does work in most places if you use it as a guideline.




posted on Feb, 26 2013 @ 07:37 AM
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My wife works for a reality company that specializes in foreclosure, and I can tell you the things in this article are down right true.

I don't know of any cases personally where homes have been foreclosed on illegally, but as soon at they legally can, the bank will seize your home and hire a company to deal with the rest.

They will go out and evaluate the home and tell the bank what they should try to sell it for. They will contact the local police department and will show up to remove you from the house, and set all the contents of the house on curb, at this point all your possessions become public property and anyone can take your stuff. For obvious reasons they prefer to do this when the "home owner/squatter" is not home and the sad thing is that it's their neighbors that are usually first in line to legally rob them.



posted on Feb, 26 2013 @ 07:51 AM
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And yet none of the banksters have gone to jail. These tools entirely screw-up the economy, get bailed out at OUR expense, we lose our home equity, credit and homes and yet so many yeas later there is still no accountability. I don't care which color koolaide you drink, this is hardly a coincidence. This alone lets you know how 'the system' works. And then, when the government's mismanagement bankrupts the country (as in Spain, Italy, Greece, etc.), the banksters come in and foreclose on The People's treasure in the form of 'austerity measures'. Tell me agin why we are not hunting and eating banksters?



posted on Feb, 26 2013 @ 07:54 AM
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Why is this on the front page of ATS?? All the OP did was goto the bullhorns site and copy/paste.

No originality, nothing new to offer, just copy/paste....as if every single one of us doesnt visit that site daily and didnt see the story.

Why do peeps flag copy/pastes anyway?? Find a story that isnt on another site and youll get a star/flag from me. Til then, you can pat yourself on the back for copypasting a NON STORY.

ATS has fallen sharply ever since Sandy Hook. Must be most of the real news hounds jumped ship after the censoring. Think not? Just take a look at the front page and ask yourselves why half of those topics made it there.

Time for me to move on as well....I dont need to constantly see copy/pasted stories taken from rival sites...its redundant as we all visit those sites. Be original...come up with something NONE of us have seen.

As far as these being horror stories as claimed....perhaps people should pay the banks what they agreed to. Suddenly, banks are bad because wastes of life cant fulfill their obligations?? Also...the source is sketchy...I have a hard time believing for a millisecond that a bank would foreclose on a house they do not own...there is more to those stories Im sure.

edit on 26-2-2013 by CaptainOblivious because: spelling



posted on Feb, 26 2013 @ 10:16 AM
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Originally posted by CaptainOblivious
Why is this on the front page of ATS?? All the OP did was goto the bullhorns site and copy/paste.

No originality, nothing new to offer, just copy/paste....as if every single one of us doesnt visit that site daily and didnt see the story.

Why do peeps flag copy/pastes anyway?? Find a story that isnt on another site and youll get a star/flag from me. Til then, you can pat yourself on the back for copypasting a NON STORY.

ATS has fallen sharply ever since Sandy Hook. Must be most of the real news hounds jumped ship after the censoring. Think not? Just take a look at the front page and ask yourselves why half of those topics made it there.

Time for me to move on as well....I dont need to constantly see copy/pasted stories taken from rival sites...its redundant as we all visit those sites. Be original...come up with something NONE of us have seen.

As far as these being horror stories as claimed....perhaps people should pay the banks what they agreed to. Suddenly, banks are bad because wastes of life cant fulfill their obligations?? Also...the source is sketchy...I have a hard time believing for a millisecond that a bank would foreclose on a house they do not own...there is more to those stories Im sure.

edit on 26-2-2013 by CaptainOblivious because: spelling


And now YOU are on the front page for doing nothing but complaining.

Strange days indeed...


BTW...Anything to add on the actual topic?

Peace



edit on 26-2-2013 by jude11 because: (no reason given)



posted on Feb, 26 2013 @ 11:34 AM
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Maybe if the banks were held accountable for these foreclosures upkeep the wouldn't want them back so fast. Unkempt lawns, Gutted of copper plumbing, wiring and fixtures, broken or boarded up windows, squatters moving in and out. Nothing like living near a foreclosed fixer upper while the value of your property sinks. If I had my name on a house like that, I would be getting a letter from the city to either fix it or tear it down.



posted on Feb, 26 2013 @ 01:35 PM
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reply to post by jude11
 


Excellent thread! S&F

It gets worse though. I'll use my situation as an example.
Cutting to the chase, when I went through my bankruptcy hearing, my attorney didn't notice that there were two forgeries on my note. The bankruptcy was granted and my mortgage written off.
Last year, I noticed the forgeries. What does this mean? My mortgage note was not legal and the balance was not real.
The federal government granted my bankruptcy and added this (imaginary) debt to the national debt.
The debt didn't exist because the notary committed a felony thus making the mortgage null and void. I paid for two years on a note that wasn't even legal!
I'm sure this has happened to many other homeowners who are now paying or have been paying on mortgage notes that aren't even legal. Are you one?
Or maybe you got this imaginary debt wiped out during your bankruptcy hearing? This imaginary debt caused your credit rating to become ruined?
Something has to happen. People need to go to prison for this. Will they? Probably not.
I'm still trying to fight this, but I'm getting tired.
Look at your notes, everyone. This may have happened to you!



posted on Feb, 26 2013 @ 02:05 PM
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The reason there's a police present is because the new owner (the bank that foreclosed) is, techinically, dealing with a trespassing issue which is a legal matter. Granted, the show of force also is used as a scare tactic but, if I were to show up at my new home, to find someone there, I'd want to be protected when I asked them to vacate.

That being said, the banks are handling the issue of deliquent mortgages in some pretty attrocious ways.

There's a thread here somewhere about how some banks initiate the foreclosure process, get the owner out and then put off filing the foreclosure paperwork. The end result is that the person who lost his/her home still owns it, the bank doesn't pay the real estate taxes because it isn't their responsibility, and the former homeowner gets additional damage to their credit and their wallet.

they will also sell mortgages while they negotiate with you to resolve deliquencies. A friend of mine was working to negotiate a deal to restructure a mortgage that covered 4 properties his mother owned. She wasn't making the payments because one of the properties was vacant and she couldn't afford the monthly payment. He was two weeks from the refinancing deal and they sold the debt to an investment group that has been strong arming him in an attempt to take the property away for development.



posted on Feb, 26 2013 @ 02:42 PM
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Originally posted by HomerinNC
How does a bank seize a house that is owned free and clear?


Most likely they refinanced the house which the bank gives you money and if you don't pay them back they will take your house.



posted on Feb, 26 2013 @ 04:21 PM
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Originally posted by Crakeur
some banks initiate the foreclosure process, get the owner out and then put off filing the foreclosure paperwork. The end result is that the person who lost his/her home still owns it, the bank doesn't pay the real estate taxes because it isn't their responsibility, and the former homeowner gets additional damage to their credit and their wallet.



Yet another loophole THEY use, and it works because they have the legal upper hand at that point. There has to be a law somewhere protecting homeowners from this sort of practice. Maybe somewhere in the fine print in the Truth in Lending Act perhaps?

Subpart E

Again, I'm not advertising lawyer services here, but I'm telling you that they do have their purposes. People complain that the banks aren't penalized for these types of actions we're talking about but it's because the people getting screwed don't do anything about it. They sit back and wait for someone else to take action. If you're informed about something in this regard there's no reason to be intimidated by the banks. ESPECIALLY if you have a good lawyer in your corner.

The information is out there to be had people. Go get it.

edit on 26-2-2013 by Taupin Desciple because: (no reason given)



posted on Feb, 26 2013 @ 05:20 PM
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reply to post by jude11
 

Foreclosing on people who are not behind in their mortgage is bad enough but taking a home of someone who paid cash for it is....theft and the sheriff''s depts that cooperate in said frauds without doing their due diligence should be held accountable as well. Truly these are travesties of justice.



posted on Feb, 26 2013 @ 06:20 PM
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reply to post by jude11
 


What is most frustrating about this topic imo is that so many people play by the rules, and they play fairly with integrity. They do everything right and get screwed while the criminals get to run amok. There needs to be some serious retribution.






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