What a jealous bitch that gal is.
  2. hahah this made national news? The house is less than a mile away from me. Yesterday I was driving down the major street just off where this dude is squattin and I drove by to check it out. Pretty nice digs.

    Adverse possession is not well known to the city folk but out int he sticks everyone knows about it because people do use it out there. Mostly it's used when someone is using a road on your property. Eventually they can claim ownership of it and require an easement through your property.

    That's why ya gotta carry a shotgun and be a crazy mutherfucker or people goin to rob ya blind.

    What amazes me more is this guy found a house in Flower Mound that isn't part of an HoA. HoAs will foreclose in a heartbeat once the HoA dues aren't paid. An HoA nearby in Plano foreclosed on a house while the owner was away in Afghanistan savin the world and all that.

    I got a lot of comments ont he WFAA website on this article. Some people were PISSED. I wanted to post the Al Bundy "DEAL WITH IT" gif so badly.
  3. You should've done it krozar. Then posted the replies back on here.

    And if the guy went and got it legally then they shouldn't be getting mad. It's not his fault they had to pay all of that money.
  4. Damn that's nuts.
  5. Read this on the Misc yesterday. Lady is racist and butthurt, rectum ravaged, anal annihilated, tookus tortured, butt devastated and so many other ways to say butthurt that I can't think of. "Buy the house like everyone else" GTFO lady.
  6. I guess Im the only one questioning if this is truly a legal possession and form if AFFIDAVIT isnt even spelled correctly

    hate to say it...he'll be out within 6 months and make us look bad in the process

    and if not...its Texas...they dont bullshit down there...theyll lynch mob his ass out
  7. They only way they can remove him is to harass him. Which he could just report to the authorities.
  8. fix'd and how? he doesnt have water or electricity so a phone or landline are doubtful
  9. Cell phone and there is nothing legal or civil about harrassing someone. They'd be in more hot water for discrimination. Especially seeing as that shit is a hot topic these days and is very illegal.
  10. He'll be removed because someone has power over the title. Title > affidavit.
  11. Didn't they say to get him removed long story short the owner would have to come back, pay off the house then have the banks draw up a case to remove him. If the dude lost his house and moved out and the mortgage company closed who in the hell is gonna drop that type of money to just move one dude out the house. If he moved in near me IWGAF. Just as long as he's neat and quiet I could careless.
  12. Lotta IFs here and little information from the article.

    BIG POST COMIN UP (but I wrote it all by hand so you better read or I be sad.)

    Mortgage companies don't own a lot of their loans. Mortgagees are not banks.

    One of the three will happen.

    1. Govt guaranteed;
    These are: Federal National Mortgage Association - FNMA ( aka "Fannie Mae"); Federal Home Loan Mortgage Corporation - FHLMC (aka "Freddie Mac"), and Government National Mortgage Association - GNMA (aka "Ginnie Mae"). FNMA does general mortgage loans. FHLMC backs loans from S&Ls (largely extinct, so most FHLMC loans are ancient), and GNMA is for VA loans. These 3 were created by Congress to back loans and invest in them, designed to be for-profit companies to eventually be fully privatized (although was only partially privatized).

    FNMA, FHLMC, and GNMA set the rules that servicers (mortgage companies) must follow when it comes to servicing the loan (such as approval for a loan modification). However the 3 do not service their own loans for any long length of time.

    2. Assest-backed securities (ABS);
    These are mortgages packaged into bonds by the mortgagee and sold to investment houses such as Magnetar Financial. They are typically a mix of mortgages, packaged by quarter of a year. Some mortgage companies will purchases a few of their own bonds. My employer had several. Usually they are labeled by a 5-letter investor name followed by quarter and then the year. AKA MAGNR-Q1-2005. You can pull up a prospectus on any of these bonds to see what the makeup of mortgages are.

    The bond investors will break up these ABS bonds into CDOs (collateralized debt obligation) which are formed into tranches. Tranches are essentially the credit rating of the mortgagors (homeowners) who took out the mortgages. Needless to say, bottom tranches (oddly enough, they are called "mezzanine" tranches) are risky. The bond rating houses will rate CDOs on a their usual scale.

    Mortgage companies can service ABS loans as they see fit. The Mortgage company will always retain full control.

    The ABS department(s) at a mortgage company are usually staffed by the newbs because there is little to screw up. Having a good report with FNMA is the big deal these days.

    3. Special Servicing for Others;
    An SFO is similar to #1, but it's a bank that has the loan and a mortgage company is servicing the loan for them. Just as with #1, the mortgage company has to follow their compliance.

    Loans generally come into a mortgage company one of three ways:

    1. Inventory;
    Mortgagee has these on their own line of credit. Typically right after origination but sometimes they get stuck with them if they go into foreclosure 90 days right after origination LOL.

    2. FDIC;
    Don't even get me started on FDIC acquisitions. Socials #s missing. Key information missing. Docs missing. Names missing. So many of them are fucked. I was on an acquisition team and it was a hair-pulling experience. Obviously these came from the portfolios of failed banks. These act as inventory or SFO for a period of time. FNMA is guaranteeing most of these loans these days. Some come in being years into foreclosure already. These are HAMP or GTFO loans. The key with many of the loans is to minimize loss.

    3. The Federal Reserve of New York;
    Similar to FDIC but they came from Bear Stearns. What the Reserve Bank of NY did was to grab all Bear Stearn's mortgages and funnel them into LLCs (such as my employer) since LLCs aren't on the books. Bear Stearn's mortgage arm was headquarted just 3 blocks from my employer oddly enough.

    So, thus, many IFs here. Who has this loan? Who is the leinholder? Who is the servicer? Legal action is not a big deal for a mortgage company, They have a big legal department and more lawyers than they know what to do with. They have an entire building wing of lawyers that work with massive law firms who in turn outsource to smaller law firms. Mortgage companies are a bread-and-butter supplier of work for law firms.

    Also, what about taxes? Once a mortgage payment goes 30-day delinquent, the mortgage company is going to put force-placed escrow on the property if it wasn't already in escrow. These days the county will sell a house over $4 in unpaid taxes (seen it happen) so quickly that the mortgage servicer and 3rd-party escrow company won't even know about it yet! Usually a mortgage company has a 3rd-party such as Assurant Group handle the tax and insurance payments. This is true even if insurance is force placed (doesn't protect the homeowner, just the mortgage company) in the case of an AWOL or don't-give-a-fuck homeowner. Assurant Group and others usually go off data from a company called First American aka Core Logic who are like the CIA of property taxes.

    Usually someone pays this. Who? Who are they paying escrow on behalf of?

    The wheels will start turning.
    killacross and XandorXerxes like this.
  13. Whoa nigga I ain't reading all that shit. But really even if it IS alot of if's it pretty plausible that no one is gonna step forward to claim that house or even fight for all this. No one is gonna work that damn hard to just put this dude out and it's not even so much about the house.
  14. Hey, I'm just happy you called me a nigga!

    Me IRL if I was a nigga.

    But I am cynical when it comes to things in this pro-business, fuck the little man State. He may have found 1 advantage, but the people with money will have over nine thousand.
    ravi134 likes this.
  15. At this point is the guy legally able to pay the taxes on it as the person with the sole claim on it? Is he able to get power and water, and just chooses not to? If my neighbor pulled that I'd be jealous too.
  16. i dont want bums in my neighborhood and in general, dont want him ruining a $300k house (he paid nothing for it so he obviously doesnt care and wont pay to make repairs in the 3 years he hopes to live there...and hes not gonna pay taxes on the building because hell be like..."I dont own anything, I just live here" and after 3 years...the government will foreclose on him for not paying taxes, hell leave and try to do the same again)

    ...still doubt its all up to par w/ the first word being misspelled ...youre my lawyer and you misspell ANYTHING and file it, youre fired on the spot
    ...guilty people get outta prison sentences for minor shit like that
  17. Don't blame the people that exploit the system. Blame the people that make the system. The same system in some form or fashion keeps the rich richer and the poor poorer. This guy just happened to work it in to his advantage. Also the dude said once the house is he's gonna repair and setup shop so he's not going anywhere. Or else he could flip the house and make more money off of it. Either way who are you to call this guy a bum. You don't even know anything about this guy nor does the interview reveal much about him.

  18. seriously? Im someone who lives in an apt with MY NAME on the LEASE...with a power bill and water bill that come with MY NAME on them...if hes not a bum, I challenge him to hop on here and post a retort from that address :troll

    people with homes/decency/pride dont move break into houses they dont own because of a loophole in the system...and especially dont plan to live there w/o lights and water for 3 years...

    ...and of course I blame EVERY person who exploits the system...I blame every fucker I see with the handicap placards but are perfectly healthy, every baby farmer sneaking into the country for a better life w/o going through the proper channels, every lazy fuck abusing the foodstamps program, etc etc etc

    ...I dont care that the system has a mistake, and I get that its "letter of the law" vs "spirit of the law"...but I wish people were raised with some self-respect...think of how much money/time could be saved if the government didnt have to baby so many people out there because they acted like fucking adults instead of little children

    ..matter of fact, hope someone does go into this guys that house in the middle of the night...drags his ass out and throws him a good ol fashioned blanket party

  19. Crackas just upset that for once a brother is using the system, instead of being raped by it.
  20. Yup that's pretty much the case. Crackas always act like they aren't but when they start talking about the dude being from JWP's district then you know they're playing that card. FYI JWP = John Wiley Price. He is the Dallas County Commissioner for the Southern district. His district is primarily black and JWP has been a advocate for equal rights since the late 80s when he first came into office. The dude is hated by most whites here to the degree that the FBI went after him. JWP is an asshole but that's another story.

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