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Thu Jan 17, 2013, 02:15 PM

In Case You Missed This... I Hope Senator Warren Puts This At The Top Of Her Asses To Be Kicked List

Special Report: The latest foreclosure horror: the zombie title
By Michelle Conlin - Reuters
COLUMBUS, Ohio | Fri Jan 11, 2013 2:10pm EST

<snip>

COLUMBUS, Ohio (Reuters) - Joseph Keller doesn't expect he'll live to see the end of 2013. He blames the house at 190 Avondale Avenue. Five years ago, Keller, 10 months behind on his mortgage payments, received notice of a foreclosure judgment from JP Morgan Chase. In a few weeks, the bank said, his three-story house with gray vinyl siding in Columbus, Ohio, would be put up for auction at a sheriff's sale.

The 58-year-old former social worker and his wife, Jennifer, packed up their home of 13 years and moved in with their daughter. Joseph thought he would never have anything to do with the house again. And for about a year, he didn't. Then it started to stalk him.

First, in 2010, the county sued Keller because the house, already picked clean by scavengers, was in a shambles, its hanging gutters and collapsed garage in violation of local housing code. Then the tax collector started sending Keller notices about mounting back taxes, sewer fees and bills for weed and waste removal. And last year, Chase's debt collector began pressing Keller to pay his mortgage, which had swollen, with penalties and fees, from $62,100.27 to $84,194.69.

The worst news came last January, when the Social Security Administration rejected Keller's application for disability benefits; the "asset" on Avondale Avenue rendered him ineligible. Keller's medical problems include advanced liver disease, hepatitis C and inactive tuberculosis. Without disability coverage, he can't get the liver transplant he needs to stay alive.

"I can't make it end," says Keller. "This house, I can't get out."

Keller continues to bear responsibility for the house because on December 23, 2008 - about two months after he received Chase's notice of sale - the bank filed to dismiss the foreclosure judgment and the order of sale. Chase said it sent Keller a copy of its court filing on December 9, 2008. Keller says he never received any notification. Either way, his name remained on the property title.

The Kellers are caught up in a little-known horror of the U.S. housing bust: the zombie title. Six years in, thousands of homeowners are finding themselves legally liable for houses they didn't know they still owned after banks decided it wasn't worth their while to complete foreclosures on them. With impunity, banks have been walking away from foreclosures much the way some homeowners walked away from their mortgages when the housing market first crashed. "The banks are just deciding not to foreclose, even though the homeowners never caught up with their payments," says Daren Blomquist, vice president at RealtyTrac, a real-estate information company in Irvine, California.

<skip>

Much More: http://www.reuters.com/article/2013/01/11/us-usa-foreclosures-zombies-idUSBRE9090G920130111








22 replies, 1373 views

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Arrow 22 replies Author Time Post
Reply In Case You Missed This... I Hope Senator Warren Puts This At The Top Of Her Asses To Be Kicked List (Original post)
WillyT Jan 2013 OP
WillyT Jan 2013 #1
WillyT Jan 2013 #2
prairierose Jan 2013 #3
Egalitarian Thug Jan 2013 #4
WillyT Jan 2013 #5
WillyT Jan 2013 #6
WillyT Jan 2013 #7
WillyT Jan 2013 #8
WillyT Jan 2013 #9
WillyT Jan 2013 #10
Egalitarian Thug Jan 2013 #11
hedgehog Jan 2013 #12
WillyT Jan 2013 #13
octoberlib Jan 2013 #14
WillyT Jan 2013 #16
Guy Whitey Corngood Jan 2013 #15
smirkymonkey Jan 2013 #17
WillyT Jan 2013 #18
Trailrider1951 Jan 2013 #19
WillyT Jan 2013 #20
lunasun Jan 2013 #21
WillyT Jan 2013 #22

Response to WillyT (Original post)

Thu Jan 17, 2013, 02:20 PM

1. And THIS... God Damned Cowards

Asked to comment, Ocwen issued a statement saying: "It is Ocwen's policy not to disclose details about specific customers. In this case, Ocwen has attempted to work with the borrower over a four-year period. Ocwen offered to settle the account with the borrower but never received a response to the offer."

The Consumer Financial Protection Bureau, the federal agency established in the wake of the financial crisis to guard against predatory lending and other abuses, declined to comment for this article.

HSBC declined to comment on Volker's case, citing privacy concerns. In a statement, the bank said it "has a strong commitment to home preservation and regards foreclosure as a last resort, only after alternatives have been exhausted and the borrower is seriously delinquent."

IndyMac declined to comment.

The association did not respond to repeated requests for comment.

Professional Recovery Services declined to comment.

A Social Security Administration spokesperson declined to comment on the case.


From OP article.





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Response to WillyT (Original post)

Thu Jan 17, 2013, 03:52 PM

2. Kick !!!


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Response to WillyT (Original post)

Thu Jan 17, 2013, 04:47 PM

3. kick

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Response to WillyT (Original post)

Thu Jan 17, 2013, 05:47 PM

4. K&R Trillions for Wall Street, nothing for Main Street. n/t

 

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Response to Egalitarian Thug (Reply #4)

Thu Jan 17, 2013, 08:19 PM

5. Yep... The New Normal...




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Response to WillyT (Original post)

Thu Jan 17, 2013, 08:29 PM

6. Kick !!!


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Response to WillyT (Original post)

Thu Jan 17, 2013, 10:12 PM

7. Kick !!!


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Response to WillyT (Original post)

Thu Jan 17, 2013, 10:42 PM

8. Kick !!!


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Response to WillyT (Original post)

Thu Jan 17, 2013, 10:58 PM

9. Well...At Least We Now Know That The Our Moral Compasses Need Severe Re-Calibration...




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Response to WillyT (Original post)

Thu Jan 17, 2013, 11:57 PM

10. Second To Last Kick From Me...


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Response to WillyT (Original post)

Fri Jan 18, 2013, 12:36 PM

11. Sorry about that. Nobody really cares anymore. Real estate fraud is just too big an issue

 

and it's politically inconvenient for of the branches and all along K Street...

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Response to WillyT (Original post)

Fri Jan 18, 2013, 12:38 PM

12. There must be a way to sue these banks in civil court......

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Response to hedgehog (Reply #12)

Fri Jan 18, 2013, 07:22 PM

13. One Guy In The Article Suggested That Contacing State's Attorney Generals Might Be Away...


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Response to WillyT (Original post)

Fri Jan 18, 2013, 07:28 PM

14. This is awful.

Taxpayers bailed their asses out and this is how they return the favor.

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Response to octoberlib (Reply #14)

Fri Jan 18, 2013, 07:45 PM

16. Yep... The "Little Guy" Is SCREWED...

And OUR party used to stand up for the little guy.

I am hoping Senator Warren reminds us all of the historical reality.




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Response to WillyT (Original post)

Fri Jan 18, 2013, 07:29 PM

15. K&R

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Response to WillyT (Original post)

Fri Jan 18, 2013, 07:49 PM

17. Sick! I cannot believe this is happening to these poor people.

This makes me so f***ing angry!!

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Response to smirkymonkey (Reply #17)

Fri Jan 18, 2013, 07:51 PM

18. Me Too !!!




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Response to WillyT (Original post)

Fri Jan 18, 2013, 08:01 PM

19. Good Lord, is there no rule of law in this country anymore?

The banks do whatever they please and leave the people, both individuals and their towns, to pick up the tab and the mess. They make the Mafia look like Boy Scouts! I guess it's now a scam-a-minute and a fricken fraud free-for-all! This is the reason some people are hoping the whole damn financial system mess implodes!

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Response to Trailrider1951 (Reply #19)

Fri Jan 18, 2013, 08:08 PM

20. Yeah.. If You Run A Medical Marijuana Shop... Or, Are A Whistleblower... But Banks... Not So Much...




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Response to WillyT (Original post)

Fri Jan 18, 2013, 11:53 PM

21. so they can put a lien on your future benefits from SS? I never heard of that or am I just not

getting it. Why did nt he claim bankruptcy? Would that have ended the lien?
This is absolutely the worst
and he was a social worker
very sad

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Response to lunasun (Reply #21)

Sat Jan 19, 2013, 12:18 AM

22. Very Un-American...




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