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I Really Don't Understand The Us Sometimes....


Jst2fst

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Searching the Washington post an came across this. Man lost $197,000 home for a $134 owed in property tax. How do you justify that no matter what off the wall loophole or half assed law. http://www.washingtonpost.com/sf/investigative/2013/09/08/left-with-nothing/

 

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theres always more to these stories. the guy's tax debt probably got sold to a third party company, and he probably didnt cooperate with them....foreclosing on a house is a long fucking process, they didnt swoop in and take this guys house over night....he was probably uncooperative and not paying the $134 on some principle and now hes crying victim because he lost his house.....thats my guess at least....you dont just lose your home over $135 with no chance to ever correct the situation...it just doesnt work that way....ive seen people whose houses have been in foreclosure for over 100 months and still havent been sold at an auction....he didnt wake up one morning and realize omg theyre taking my house

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theres always more to these stories. the guy's tax debt probably got sold to a third party company, and he probably didnt cooperate with them....foreclosing on a house is a long fucking process, they didnt swoop in and take this guys house over night....he was probably uncooperative and not paying the $134 on some principle and now hes crying victim because he lost his house.....thats my guess at least....you dont just lose your home over $135 with no chance to ever correct the situation...it just doesnt work that way....ive seen people whose houses have been in foreclosure for over 100 months and still havent been sold at an auction....he didnt wake up one morning and realize omg theyre taking my house

 

Yep, reading the story that's basically the gist of it...

 

Had the option to pay before and after legal proceedings. refused, or thanks to some mental instability, wasn't of sound enough mind to do so....

 

I don't think it's right, and if it's done, the people being evicted should at least get the equity from the sale, leaving the forcloser with the original bill amount plus their legal fees at most.

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If you're dumb enough to let someone take your house for $135, you don't deserve the equity from the sale... Factor in however many months it was in fc, how much it cost the debt companies for overhead costs, lawyers, court proceedings, etc etc... Did they profit on it? Absolutely. But they're entitled way more than $135 plus legal fees

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If you're dumb enough to let someone take your house for $135, you don't deserve the equity from the sale... Factor in however many months it was in fc, how much it cost the debt companies for overhead costs, lawyers, court proceedings, etc etc... Did they profit on it? Absolutely. But they're entitled way more than $135 plus legal fees

 

$198,000 charge on a debt of less than $200 is bullshit...

 

Lawyers and court proceedings are the legal fees to which I was referring...

 

Should they make their profit? sure... and they do because they bought the debt for a percentage of what the debt is..

 

collection companies typically buy debt at a fairly low percentage (less than 50) so the debt company buys the debt for lets say $65 or $70 at most... pay their lawyers, and their fees and they profit $180,000? that's no bueno...that's bullshit.

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