The Segals have been able to keep from being thrown out of their home. Their adjustable rate mortgage tripled to $3,000 a month.
The Segals want the bank to modify the mortgage so payments are affordable, and they think the court will agree that their lender put them into a toxic loan.
“The evidence will show that we were defrauded,” said Jill Segal.
Lynn, who didn’t want her last name used, purchased a two-bedroom on Tampa Bay in 1998 for $135,000. When the “value” of that waterfront property went up to $750,000, she refinanced twice. Now she owes over $600,000 on a property assess at $235,000.
Living in this foreclosure limbo is “Hell,” Lynn said. “I feel like I’m locked in a box. I work for a financial organization and if this came out, it could cost me my job.
… and the squatters are getting NASTY. Think boobytraps of boiling water on the front door, ferret feces, hidden living spaces and more.
In the D.C. suburbs, a new class of squatter has emerged, as people illegally remain in homes after they have lost them to the bank. Some have become aggressive in their efforts to stay, setting booby traps to ward off police.
And in Covington, Washington, squatters turned a foreclosed home into a trash dump filled with loud party music.
The report from authorities who paid a visit to the house in the Crofton Hills subdivision told the tale of squatters living in squalor surrounded by broken items, feces and rotten food.
This story first appeared in the Seattle Times.
“You’d come home and find them throwing things out of the second-floor window,” John “J.D.” Wilson,
Fortunately for the resident of the District of Columbia, we have a Landlord/Tenant Resource Center that is free to all residents and is staffed with attorneys volunteering their time to help people like this on a walk-in basis.
Foreclosure Con Artists
Then of course, there are the con artists…
The family left town to care for an elderly relative, and the man moved in while they were gone. And changed all the locks. That was enough to establish residency, along with one piece of mail coming to the house in his name. The dispute belongs in landlord/tenant court because the police don’t want to judge the validity of a deed or legal claim.
Pfister: The problem is this is a short sale. The owner has no money to be represented by an attorney to get this guy out. So that makes it much more difficult.
As it all goes on the news, it probably will give various vandals and loafers ideas…
For debt relief, foreclosure mediation and other foreclosure help, phone Axsmith Law LLC at (202) 285-5415.