Black Man Buys $300k House For $16, Neighbors Upset

exactly......

that is what I call a happy capitalist....

cheers

:)

yay...but the taxes will probably do him in

Nah, taxes are based on SALE price and land value...

Um, no, taxes are based on property value.

Two states with the highest effective tax rates are Wisconsin and Texas, where rates exceed $18 per $1,000 of property value.

If I had the chance to do it, I'd be living there as well!

Good grief, have any of you seen how ridiculous this has become in Tampa, FL?

tobiii

That could also mean that they have the lowest appraised property values on average.

Take two areas, both have the same total funding requirements ( say 1,000,000 dollars over 10000 homes ). In area 1 the houses are worth on average 100,000 a piece, and in area 2 the houses are worth on average 200,000 a piece.

In order to collect the same amount of tax revenue, the effective tax rate of area 1 needs to be double that of area 2.

The property tax rate on its own is not a useful measure.

Interesting as I bought a condo in Long Beach valued at $210k only paid $79k and my tax is based on the purchase price.

Also bought a home in Garden Grove valued at $740k but only paid $430k and am paying taxes on the purchase price there too.

Still say to the guy who paid $16 way to go to make the system work for him!

The 16 dollars in his case wouldn't even be the purchase price, that would be the fee. The purchase price would be 0.

Each state is going to have its own rules however so what you have in california isn't going to be valid in texas, though the rules may end up being the same, it is different state and local statutes.

To become liable for the taxes he probably has to last the 3 years to claim ownership ??? Until then it would be up to the current title holders ...

he actually would have to pay the back taxes in order to claim ownership.

Absolutely, good for him. Is the problem for some that this is a black man taking advantage of the law?

Ok a lot of you are making assumptions about this man's property taxes HERE IN TEXAS, based on your experiences purchasing homes outside of Texas. Our property tax rates are among the highest in the nation and are based upon how much or how little development there is in the surrounding area, so it really is property value. If you live somewhere out in the sticks you will have lower property taxes, for a while and have to drive a million miles to even find the nearest post office. Then development and the nouveau riche come through, building schools, and rec centers, and suddenly your taxes are through the moon. This guy had better have a job and an escrow account because Flower Mound is the new Plano, and has been for some time. The rates out there are ridiculous.

I'm happy for the brother, but i'm sure they won't rest until they get him out. White suburbanites here in Texas are deathly afraid of my people.

In California, Proposition 13 (1978) required property taxes on real property to be no more than 1% of the property value at its current appraised value (1978) or the purchase price paid at a later date.

My house's appraised value (pre 1978) is approximately $225K whereas the market value is approximately $1MM. Nearly every other house in my neighborhood has traded since 1978 and there is a tremendous disparity in the amount of taxes one neighbor pays compared to the neighbor next door.

michael.

and that is fundamentally unfair. You draw on the exact same services that your neighbours do don't you?

I don't understand why it's significant that this guy is black.

I don't understand why it's significant that this guy is black.

It isn't.

But you know how it goes, never let a chance to scream "racism" go to waste.

Even if there is NO "racism" involved.

Jack TX

I don't understand why it's significant that this guy is black.

Wrong sentiment. It's not because he's black. It's because he's not white. They'd probably react the same if he was Hispanic. It IS Texas after all. The last line in the story is:

Do you think the neighbors would have a problem with this man if he was white?

The answer is "probably no," because if he was white, they would say he was what the tea baggin' was all about.

This guy is obviously intelligent enough to do the research and know the law. Until someone can find anything illegal about what he is doing the house is his. Sure the neighbors are upset. They worked hard to afford to buy a 300k + home. But I bet if any one of them had known about this law they would have taken advantage of it too. Sure racism may play a small part in the dispute but I think it's just plain old fashion jealousy.

I believe the man is a real estate agent. I'm not sure about it but I think he is and that is how he knew about the home and the loophole. Jealousy is definately driving the neighborhood problems. They do need to consider this was an abandoned home, in forclosure basically and its safer occupied and will be better for neighborhood values. Its never good for neighborhood values to have forclosed and vacant homes on the street.

Jim Davis, Veterans-For-Change

Interesting as I bought a condo in Long Beach valued at $210k only paid $79k and my tax is based on the purchase price.

Also bought a home in Garden Grove valued at $740k but only paid $430k and am paying taxes on the purchase price there too.

Perhaps it depends upon the state you live in. In my state and at least one other that I know of for certain, the purchase price has nothing to do with the amount of the property tax. The property taxes are based on the estimated current value of the property, which may be higher or lower than the price paid for the property. If you feel the county assessor has calculated the value of your property too high, you can have them send a person out to recheck it. They don't care what you paid for it though.

McSpocky:

The purchase price is the last valuation of the home though. At least until the next assessment.

Wrong sentiment. It's not because he's black. It's because he's not white. They'd probably react the same if he was Hispanic. It IS Texas after all.

Wow, nice stereotyping of all Texans. If it's racist to assume that blacks are welfare queens and gangbangers (and that is racist stereotyping), isn't it racist stereotyping to assume that all Texans are 1) white (we're not, whites are the minority in TX) or 2) don't want blacks and hispanics living near them?

They do need to consider this was an abandoned home, in forclosure basically and its safer occupied and will be better for neighborhood values.

So why bother buying a house at all? just look for an abandoned or in foreclosure home, and move in. We've had an abandoned home on our street for 3 years - I'm going to check this out and take it over!

We've had an abandoned home on our street for 3 years - I'm going to check this out and take it over!

Seriously.

I'm wondering when this dude is going to be on late night TV selling his real estate course. I think I'd buy that one.

You'd think the mortgage / banking industry would be working the politicans to close this loophole -- from reading the brief article, the man claims, apparantly correctly, that if the house is abandoned/not occupied, and someone lives in it for 3 years, they can claim ownership.

as for Texas property taxes, yes, they are very high (voice of experience here), I believe because there is no state income tax in TX, so property taxes must fund what income taxes would.

And here I am with $17.00 in my pocket

Moonlighting

I was once given the choice of spending one night in Texas or 6 weeks in Hell. I said, "Can I have some time to think about it?" LOL. just a joke of course.

In California, Proposition 13 (1978) required property taxes on real property to be no more than 1% of the property value at its current appraised value (1978) or the purchase price paid at a later date.

http://articles.latimes.com/2009/jul/13/business/fi-hiltzik13

Reagan really screwed California with this one.

http://dailymull.com/1499/The-Object-Lesson-from-California

hmmm... if anybody is made it's either because he IS black or because they couldn't exploit it to benefit them first. Good for him.

Here is just another whacko that needs racism to survive.

Who are you really? Jesse Jackson or Al Sharpton maybe.

Moonlighting

Wow, nice stereotyping of all Texans.

Agreed. Guilty on this one. In my defense I have, in some other posts, referred to the fact that some Texans (speaking like they were specking for all Texans) where giving other Texans a bad reputation.

"Did I type S L O W L Y enough this time for even a Texan to understand? Too bad your type gives the decent Texans a bad name."

I apologize for not including a similar disclaimer in the previous post.

Not a steal of a deal... just plain stealing. I'm sorry, but squatting is wrong, no matter what color you are.

I say, if one of those neighbor's shoots his sorry theiving butt, good for them too.

What are they the most angry about? Him being black, or getting a steal of a deal?

I think it's a combination of both. More that he's black

I agree: Good for him.

Not a steal of a deal... just plain stealing. I'm sorry, but squatting is wrong, no matter what color you are.

He followed the law, played by the rules and got the reward. Isn't that the American Dream in a nutshell?

He followed the law, played by the rules and got the reward. Isn't that the American Dream in a nutshell?

Well except for the him not being White part. The American Dream isn't supposed to work for non-White people. /sarc

They're possibly angry at the realization that their property is worth 'zip'.

He followed the law, played by the rules and got the reward.

Just because the law rewards theives who squat on other people's property for a certain amount of time doesn't make it right. What would you think of him if he moved into your house and loced you out, then took legal ownership of the house you worked YOUR whole life for?? Bet you'd have a whole new outlook if you were the victim instead of the bank. But guess what? You're the victim either way, the bank's just going to raise rates to cover the loss, you're just too stupid to understand that we're ALL going to have to pay for this.

Who did he force out, though? The house was abandoned and foreclosed. Sounds like the bank didn't care much, either; maybe thinking that any sort of caretaker they didn't have to hire was better than the sort of squatter that trashes a place or starts fires for cooking in the living room. Now they have somebody who's going to take the place off their hands.

Z1P1

Squatters rights have been enshrined in common law for oh a thousand years or so.

James

It was a mortgage company that was in bankruptcy. Though if anyone is reading the news, it will be on their sights now.

Jonathan, that doesn't make it any less of a theft. Just because it's not illegal doesn't make it right. It's still theft, and he's still a theif, and I certainly wouldn't want a theif moving in next door to me.

zip

Squatters rights have been enshrined in common law for more than a thousand years, so if you don't like it, then have the laws changed in your jurisdiction.

Seriously, he is following the law. Such is life. If the company that currently is the trustee doesn't notice it, then it is their fault.

He's still a theif. Many shoplifters get away with it unnoticed, they are still theives... he will never be any more than a piece of garbage theif... sorry if you don't like that.

z1P2

Ok, a thief is someone that breaks the law. He is NOT breaking the law.

Oh and all it takes is for someone to notify the company that holds the lien on the house and advise them. If they do nothing, not the guys problem.

ZIP is having a real problem understanding something that is legal like squatters rights.

Z1P2, squatters do not present legal paperwork, or go through the trouble of filing papers with the County for ownership. The bank holds the lein on the property so they will have to take on the legal expense to get him out. All of this because the jackass who originally owned the home could not handle the repsonsibility.

Z1P2

He's still a theif.

No, he is an opportunist. If recognized a situations a seized the opportunity following all of the legal requirements to do so. Those with prior claim to the property can come back and have him removed once they have complied with the legal requirements to do so first. He is just banking on the fact that they will not do so before his claim becomes dominant.

In California, in order to take property subject to adverse possession the possessor would have to meet the following requirements:

1. possession under a claim of right or color of title;
2. actual, open, notorious occupation (protected by a substantial enclosure such as a fence and usually cultivated or improved);
3. adverse and hostile possession;
4. continuous possession for a period of five years; and
5. payment of all taxes assessed against the property during the five-year period.

I guess it is a bit easier in Texas to get a property through adverse possession!

Z1P2 -

So you are fiercely anti-theft....buuuut....you're okay with murder....as long as you're murdering a thief?

Michael.

He probably would have to pay the property taxes in Texas as well.

Didn't the mortgage company that held the actual deed cease to exist? Am I correct in understanding that he could not have done this on just any vacant house?

The assets of that company would be held in trust by a bankruptcy in trust firm. They would be responsible for the assets until they can be disposed of and sold to another entity. The question is, who now 'possesses' the liens.

The assets of that company would be held in trust by a bankruptcy in trust firm. They would be responsible for the assets until they can be disposed of and sold to another entity. The question is, who now 'possesses' the liens.

Ok. So if that is eventually determined to be....for example...Chase, do they have any recourse to reclaim the property or are they just out of luck?

Well right now, the only assumption is that it is in the hands of a trustee, which can take years because the creditors of the company are probably fighting over who gets what.

The answer to your question is, if the guy files the paperwork, and it is approved, then the previous holder of the lien would no longer have any recourse. The point of waiting the 3 years is that it will be considered abandoned.

If Chase were to buy the assets of the mortgage broker, then chase would potentially have recourse to sue the trustee for not properly managing the assets however.

if the guy files the paperwork, and it is approved, then the previous holder of the lien would no longer have any recourse. The point of waiting the 3 years is that it will be considered abandoned.

I would think that the 3 years is to allow the lien holder, or whoever has the lien now a chance to object to this in court.

kazutam

Yes but the guy doing it is taking advantage of the brokerage entity being in Chapter 7. It doesn't help that there are so many homes that have been foreclosed on that the system has just been completely overwhelmed.

Z1P2

Sounds like you're just jealous that you didn't find out about this first. I'm sure the Texas legislature will work on closing up this loop hole soon but for now he is in that house legally under Texas law.

Zip he is not a thief, he found a loophole, and is taking advantage of it. Most people would do the same if the opportunity presented itself. He still risks loosing it as well, the legal issues aren't done.

Actually the neighbors are not angry about anything other than the fact that they missed out on the deal themselves and how it might affect their property values. The BS about him being black and them being mad about it was only made up so that there would be a story to print. This whole thing is total BS just to make it sound like a big story. Stop the non-sense people.

Well that all depends on the color of your skin for most people, as is readily seen.

True that, Zen. The price the buyer paid is undoubtedly less bothersome than his color. Suggesting vigilante behavior is irresponsible as he's done nothing wrong under the law.

Nah, I disagree. If I pd $300K for my house & some dude waltzed into my 'hood & only pd $16 for his, I think I'd be mighty pissed off about that loophole in the law he discovered b4 I did! Way more pissed than I would about what color said dude was. I'd be, like, banging my head on my hardwood floors right about now LOL Dayum, he pulled a good one! Tho dunno how he's getting the utils turned back on, as it said the house has no water or elec atm & it's pretty hot down there.

Actually, tho, he's not getting that house for only $16. Saw another article elsewhere about this, & that said after the specified time of squatting had passed (was it a yr?), he'd have to come up w/ not just the current taxes on the house, but all the back taxes the owner of the house hasn't pd in the last 3 yrs.

Whatcha think the going annual property/schl tax rate on a $300K house is? Maybe $10K/yr? More? Dude best have himself a nice fat bank acct or he just wasted his $16 & shoulda got a pizza w/ the $ instead.

And why does all this weird stuff always happen down South? If it ain't FL, it's TX!

He didnt pay anything for the house, the 16.00 was for paperwork. He is trying to take the house under a Texas land law called Adverse Possession. If you live next door to me and I build a fence and put it one foot onto your property, and you dont stop me, after a certain amount of time I can claim that one foor under Adverse Possession. I you give me permission to build my fence there, I cant legally take your land. The problem here is that there is no one to either stop him or give him permission, the mortgage company is out of business. Smart move by him until he has to start paying taxes on it.

Do all states have these laws or is Texas just an unusual case?

He is smart, he did his research, he has an idea of what might happen and I bet he's prepared for it.

The price the buyer paid is undoubtedly less bothersome than his color.

James, read the article, he didn't buy it at all.

he didn't buy it at all.

Your right. the $16.00 was just the filing fee for the application under Texas's adverse possession law. But there is still nothing illegal about it.

Tupac said it best:

"I ain't mad at cha".

He made the law work for him. That's what I am all about. Good for him.

So wait, does that sentiment extend to companies who outsource their jobs or evade their taxes? They're using the laws to work for them. I'm curious where you draw the line - or do you? Just sayin' it runs contrary to your post here: #36.5

I hope he gets to keep the house, but, without the electricity - I wonder how they're not claiming the house as uninhabitable.

matt

it's because the house is caught in the middle of a company bankruptcy. The company that own's/services the mortgage is bankrupt so there currently is nobody to foreclose/resell the house.

it's because the house is caught in the middle of a company bankruptcy. The company that own's/services the mortgage is bankrupt so there currently is nobody to foreclose/resell the house.

Yeah, I got that from reading the article. It also says that the city doesn't have water or electricity running to the house, which at least in my county would deem the house as uninhabitable - meaning you can't live there. So according to what I know about Texas' Adverse Possession law - I'm wondering if you need to actually be living in the house to consider being in possession of it.

not sure, electricity you can create with a generator, water is a bit more difficult. I don't know the specifics of this case or the laws in question relating to what he is doing.

[So wait, does that sentiment extend to companies who outsource their jobs or evade their taxes? They're using the laws to work for them. I'm curious where you draw the line - or do you? Just sayin' it runs contrary to your post here: #36.5]

The companies who outsourced jobs made the laws wait , excuse me they paid for laws to be created to benefit them by contributing to candidates who were elected and did their bidding. This man used the laws on the books that was not created for people like him(American Black) and made that law work for him. You forget that many laws in America that benefit White American citizens,were not applicable to American Black citizens. There is no contradiction in my position.

what laws specifically are you talking about.

I can take the jobs that my company has and send them anywhere I want. There is no law that encourages or discourages it.

[I can take the jobs that my company has and send them anywhere]

American companies that outsource American jobs are rewarded with tax breaks and tax ,loopholes for doing so. That is certainly an incentive for a business.

black:

If I outsource my company's jobs, I get the same tax credit/subsidies that I would if I offshore them. The difference is that the overhead for that employee isn't paid by me.

That still is a benefit that was purchased by Corporate donations to the GOP /Tea Baggers/Conservatives Party. The Housing Laws in America were created with racism in mind and did not favor the American Negro.This Black man used a law that was created with him not in mind and made it work for him. That's what making the law work for you means.

Matt,

Seeing as how humans survived for thousands of years before indoor plumbing and electricity were invented, I think this guy will be ok. He more than likely has relatives in the DFW area he can rely on for showering, cooking, ect.

The more I read Z1P2's posts, the more I am convinced that he or she is simply a bigot who does not want Black people living near White people, and thinks we are all a bunch of criminals, much like this man's new racist neighbors. The fact that Z1P2 advocates violence against this man to remove him, smacks of KKK mentality.

Black

No it isn't. It is just the difference in having to pay things like payroll taxes or not having to pay payroll taxes. It is just harder for me to lay someone off, but I can just get rid of a contractor.

If the house was built in a state without whatever loophole he used it would be $300K. That's how it works.

If I had a baseball card worth $100 but the only person who wanted to buy it gave me $50 for it, it would still be worth $100.

If I had a baseball card worth $100 but the only person who wanted to buy it gave me $50 for it, it would still be worth $100.

Hmm, not reall though, no...if the most anybody will give you for it is $50 then that's exactly what it is worth. Now someone will give this fellow more than $16.00 for this house so it's worth more than he paid for it. The baseball card is only worth $50...

property assessments only happen every few years, so it wouldn't be the 'value' that is important, but the assessed value.

And he didn't pay 16 dollars for the house, he paid 0 dollars for the house. the 16 dollars is the application fee.

Yes that may sound like a technicality, but it is extremely important. If he paid 16 dollars, then it means that someone personally got 16 dollars for the house, and that isn't correct. He paid the 16 dollars to the government to get the paperwork filed.

well the mortgage is still 'owned' by a company. If the mortgage broker was in chapter 7, then it would be in the hands of a receiver trustee. That asset is probably going to get sold to another company who will then check up on their new assets. If they can't get that done in 3 years, that is their loss for being incompetent.

Jonathan is correct. The bank that owned the mortgage on the home went into bankruptcy They are no longer liable for the home. However, whichever bank picks up the property will be immediately responsible for all back taxes owed on the home since the time it was abandoned. If Bank of America picks up the mortgage, then this guy will have a shot, because it takes them as much as 3 years to even send out reconveyances to people who have paid their last mortgage payment. I know, I worked for B of A back in 2008. What will eventually get this guy out is all the back taxes thatwill be immediately due once this guy is awarded ownership of the home. If he hasn't got 10k or more in the bank, he's out.

Julian

Well it is up to the trustee in bankruptcy to properly assess and care for the assets of the defunct company.

What will eventually get this guy out is all the back taxes thatwill be immediately due once this guy is awarded ownership of the home. If he hasn't got 10k or more in the bank, he's out.

You gotta figure it's probably even more than that. Surely taxes haven't been paid in a couple of years, plus he's not going to get a homestead exemption.

I think he is a real estate agent or some other type of professional, he is not just a squatter that happened upon an empty house. He knew about the house and the legalities surrounding it because of his job. He can probably pay any taxes no problem. I've seen him interviewed.

Now, Kenneth Robinson, being VERY astute, does some research, and with $16.00 and occupying the place for THREE (3) YEARS, he can petition the court so they can hand over to him the title of the house.

I know, right? The idiot that lived next to me abandoned his house a year and a half ago. He could have lived there and not paid any mortgage payments because nobody is getting evicted. It's irritating having to mow the yard next door every time mow mine. I wonder if there is such a loophole in North Carolina. I wish he would move in beside me so he could start mowing the damn yard! lol

luke,

just quickly consult a lawyer with regards to 'squatters rights' and see what are on the books.

If a lawyer is asking, just say you are concerned about the homeless or drug dealers impacting the value of your home or something like that.

Luke

Here, not a bad place to start.

You don't live here in Texas, do you?

Julian

Nope I live just north in Oklahoma. But I have traveled and worked all over the "northern" half of Texas.

These folks do not want their property values plummeting, it's as simple as that.

Because whether you wish to admit it or not the plain and simple fact is that when even the "good" black families start moving into a neighborhood the crime rates go up and the property values go down.

I am NOT saying that it is the folks moving in causing this, more often than not it is their "friends" and families who come to visit that are the actual root cause especially if there are teenagers involved, but it does happen and there is no denying it.

I have lived in all sorts of neighborhoods, from those "gated communities" to the "ghetto".

I have lived beside and with all sorts of folks also.

Look I'm sorry and you can put any type of "spin" on what I have said that you wish to, but deep down you KNOW it's the truth, and sadly sometimes the truth hurts.

You don't live here in Texas, do you?

I do. What's your point?

I know the area, it is predominately white but there are black families, as far as I know they don't get grief. The area he is in has a very low crime rate. The crimes that do occur have mostly been attributable to the to kids in the area because most ( all colors) have excessive spending money and time.

Though I am sure there are rascists around but I would think most in the area would try to hide it for fear of looking like rednecks. There may be issues with his race but enough people are stuggling even just a bit I figure they are pissed about the $16 bucks.

Just mad they didn't know about that law. (Never heard of tax auctions either, maybe?) Not his fault for being better informed.

Um, no, taxes are based on property value.

Nah, taxes are based on SALE price and land value...

Um, no, taxes are based on property value.

Taxes are generally based on assessed value

Not a steal of a deal... just plain stealing. I'm sorry, but squatting is wrong, no matter what color you are.what color you are.

Sorry to spoil your hate and bigot fest Z1P2. Squatters rights or adverse possession, in legaalese, is an accepted, albeit conditional form of ownership.

Adverse possession is a process by which premises can change ownership. It is a common law concept concerning the title to real property (land and the fixed structures built upon it). By adverse possession, title to another's real property can be acquired without compensation, by holding the property in a manner that conflicts with the true owner's rights for a specified period. For example, squatter's rights are a specific form of adverse possession.

I say, if one of those neighbor's shoots his sorry theiving butt, good for them too.

I'm sure you're sorry you're not one of those neighbours. A true gun loving American.

Really? well, I actually live in Flower Mound, and you have no idea what the hell you are talking about.

The town used to be called "White Mound" and it is one of the most racist towns in Texas, probably only second to Jasper.

You are completely killing your credibility with this statement.

I have never heard Flower Mound called White Mound either. Been around here a long time. There is Blue Mound, but it's a different place.

And it has nothing to do with blue balls :p (sorry I couldn't resist )

It is definately no Jasper! I can point to far more rascist places in Texas. Texas has it pockets but Denton county isn't a hotbed.

BTW I wish him the best of luck as well.

White people are stupid.

...

Racism is totally unacceptable in any culture.

Pot, meet kettle.

I hear ya, sista! Two things I hate are racists and white people!

/sarcasm off

Curious... what makes you hate white people ? And does that not make you a racist?

You Get pissed off about taxes, welfare, and people who take advantage of the system LEGALLY…

What about those who do it legally and get state and federal grant money and don’t use it for it’s intended purpose?

You have to watch this video of Judge Judy before it's removed from you Tube before it's gone - it's actually a guy from St Paul, MN.

It will tick you off especially if our government is shut down. Unbelievable.

This is why are taxes should be raised?? Come on

http://www.youtube.com/watch?v=J7XA2UUpXRk

I don’t hate anyone, race, religion, etc… but I sure as hell do hate the people MY tax dollars are “helping” and it’s spent on personal crap and not used for what the grant money was for!

Jim Davis

That guy sounds like a real winner, actually he sounds like someone I would prefer to pay subsistence money to this guy just so that he can stay out of the workforce. To try and get him to be productive in anyway is a lost cause. I don't want him to try.

Just one of the millions of "winners" who take advantage of the many social programs!

[Just one of the millions of "winners" who take advantage of the many social programs!]

Yeap just like the New Deal and other programs that helped Whites but excluded American Black citizens and taxpayers. Perhaps this will enlighten you about who benefited from the many "social programs" you're referring to. Enjoy- http://academic.udayton.edu/race/04needs/affirm22.htm

Cris

Because as I stated earlier on this seed the author of the article WANTS it to be something "racial" so that is the way they wrote the article.

If you look at where the article is sourced from that might give you some idea of why it is written the way that it is.

But that's OK, because everyone KNOWS that it's ONLY "whites" that are "racist" in this country.

Ah OK, thank you Kazutam!

But that's OK, because everyone KNOWS that it's ONLY "whites" that are "racist" in this country.

I disagree completely (even though I know you're being sarcastic). It's just that racism from whites is more 'advertised' or popular than other types of racism. If anything, I find that (in the US) African Americans at times are more racist than white Americans.

Cris

Thanks for recognizing the sarcasm(too many don't and I forgot to tag it that way), but sadly it seems that too many actually DO believe it.

It bleeds over into everything, and to be honest I think that the constant attempts at appeasement when that cry is raised are making things worse instead of better and are making more and more folks look for any way possible to raise that cry.

You read the article and watch the attached video interview and NO ONE raised "race" as any type of issue, but the person who wrote the article.

Yet give folks a chance to digest that and you will soon hear that there were "code words" used or that they DO NOT need to hear it to KNOW that this is what those folks think.

To those who think that way(that they can read peoples minds) I'm sure that you are ALL multi-billionaires since you have that talent.

Haha you're funny!

But yea, I'm glad that even though the article points out racism, people are not anymore paying too much attention to it. That is really awesome!

Well the title of the article succeeded in getting you guys going again about racism. The leftist liberal media does that all the time while acting as if it is only pointing out a problem when the whole time they are just trying to create a buzz with another false racist claim. Trolling disguised as great journalism.

Well, I never believe in anything that comes to anyone that easily will bring them complete happiness. I, of course, hope things will work out for the best for him. But to me, when something is way too good to be true, it isn't really true! Nothing in this life is free...everything has a price, no matter how you pay for it in the end! In my opinion. I'm way to realistic to get away from this way of thinking.

well the neighbours COULD, if they were really offended, do a bit of research and figure out WHO the trustee of the mortgage brokers assets were and tell them what is happening.

He will not own the house, therefore will not be obligated to pay any taxes until he gains legal ownership after 3 years.

Some questions that are unanswered are: Who is the legal owner of the house. The original owner abandoned it but did the mortgage company foreclose on it before they went out of business? And when the mortgage company went out of business another company would have taken over the mortgages. So who and where are they? I think it's like the article said; the cost to the origial owner or the mortgage company that holds it now would would out weigh the value of the home.

So the property taxes would accrue for the 3 years. Wouldn't the state / town eventually take the house for unpaid taxes?

drbacon:

Apparently the home had been foreclosed by the servicer of the mortgage, (not the owner of the mortgage because that would technically be the Mortgage Backed Security) but the servicer of the mortgage itself went into liquidation bankruptcy. That means that the assets (those mortgages that it services) would be in the hands of a trustee in bankruptcy. The guy is probably taking advantage that the trustee probably doesn't have the resources to properly manage the assets. I agree with the other assertions that this person is probably a real estate agent or maybe someone who has access to the records for bankruptcies. You don't just stumble upon a house like this.

I agree. But who ever or what ever he is, he knows the law real well.

Another thing I wonder about is that the report stated that there was no electricity or water turned on at the house. I don't know about this particular area but in many parts of the country it is illegal to occupy a house without running water. I believe it's part of most county health laws.