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To what extremes will people go to get their homes back?

By Victor Zuniga

Real Estate Agent with Berkshire Hathaway Home Services California Properties CA DRE#01874007

October 13, 2010 08:36 AM

Have any of you heard some of the stories out there? I just heard of a story of a family who was foreclosed on and then decided to break into their former home and proceeded to change the locks. This all stems from a financial obligation amount discrepancy. The owner fell behind on the payments and was trying to bring the account current but the bank had a different amount than the owner thus the owner decided to stop paying all together.

Fast forward to this past week. The foreclosed owner claims that the bank had no right to foreclose because the title history isn't clear from when the loan was sold and transferred from one bank to another, to another, to another, etc. Therefore the disgruntled owner broke into the home, changed the locks and is now squatting in the home awaiting their attorney to get a court date set to argue the matter before a judge.

The most ironic part to all of this is that the home was sold to another family who was supposed to move in this weekend only to arrive at the home and find the locks changed and people squatting in the home. What do you do in this case? The new home owner wants to move in to the home they just bought but the previous owner won't leave? This is going to be an interesting story to follow and I'll try and keep up with it and give all of you an update. Can you imagine how many calls the selling agent is getting from his clients who purchased this home?

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Bob & Leilani Souza

Souza Realty 916.408.5500 - Roseville, CA

Greater Sacramento Area Homes, Land & Investments

Wow, Victor...I guess even the most "unthinkable" scenarios do happen in today's crazy world of foreclosures! Do you know if the new owners reported the squatters to the police? That's what I would do, along with consulting with an attorney to start the eviction process, if the police won't take care of it on the spot.

I just sat in court last week and listened to a few unlawful detainer cases, one which involved a squatter. The police were called out when the owner discovered them living there, but unfortunately they produced a (fake) lease, forging the owner's signature...and when the owner suggested that the police compare that signature to the one on his driver's license, the police said it was a civil matter and he should take it up in court.

Keep us posted on this story...I'd like to know how it turns out! :)

Leilani

Oct 13, 2010 08:55 AM

Don Spera

CR Property Group, LLC - East York, PA

Serving York and Adams County, PA

All of the things that are happening in our industry right now with the downturn in the economy, is going to trickle down to a tremendous amount of people and will have devastating affects. This is only one major case. I can only pray that something is soon going to happen for a positive change. These poor people that purchased the home and their family may have to find interim housing and a place to store their furniture, which is going to cost them an arm and a leg. Who will flip this bill. They may have wiped out their life savings when they closed on this home. That is why I recommend not doing a final walk through inspection on a home until the day of closing and as close to the time set as possible.

Oct 13, 2010 10:25 AM

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Victor Zuniga

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