C Tann-Starr's Outside Blog

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Imagine That...

http://finance.yahoo.com/news/Neighbors-Exec-moved-into-apf-818362254.html?x=0&.v=1

Gotta share this link.

Imagine being robbed by B. Madoff and having your home taken from you...

Imagine having a bank executive get a homeowners pass from security and "move" into your newly foreclosed home... Imagine having the neighbors complain to the press the property is not being shown to people who want to buy it because "they" are living and/or throwing parties in it... Imagine neighbors writing down license plate numbers and reporting them because what is happening appears to be sooooooooo wrong...

Think I am kidding? Read the above link. Very sad state of affairs, indeed...

There's an on-going investigation in progress... Hmm... Wonder where it's going to go... Imagine that...

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Comment balloon 25 commentsC Tann-Starr • September 11 2009 10:05PM

Comments

Saw this earlier today. Have they no shame??

Posted by Barb Szabo, CRS, E-pro Realtor, Cleveland Ohio Homes (RE/MAX Trinity Brecksville Ohio) about 9 years ago

Unbelievable abuse. Shameful. A whole new meaning to squatting maybe?

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) about 9 years ago

Barb, it is crap like that that makes me want to get out of real estate... What the hell are these people thinking???

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

Silvia, other words come to mind but I have to somewhat behave... I just used the C and H words so I have to play nicely for a few comments (LOL). The nerve of these people...

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

C- This was on the local news yesterday. I changed the channel because it immediately sent me seeing red. They should hang them upside down by their toenails.

Posted by Greg Nino, Houston, Texas (RE/MAX Compass, formerly RE/MAX WHP) about 9 years ago

Greg, I am livid. I missed this yesterday but caught it today because of a link while reading my e-mail.

Talk about getting my knickers twisted in a knot. I had to really bite my tongue just to write the wee bit that I did. This whomps. It really whomps.I feel so bad for the family that lost their home... This is such an insult to injury...

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

Amazing!

Posted by William Moore (Innovative Realty) about 9 years ago

William, seriously so. Makes me wonder why we can't get our REOs done in a timely manner... Here I am thinking it's because a file is sitting in a pile waiting for attention from some poor overworked and underpaid loss mitigation unit worker. Now I find out there is a sad possibility a tiny percent of people might be partying in foreclosed houses in the really nice neighborhoods temporarily keeping them off the market... How long has this been going on? Inquiring minds really want to know. This is the first I am hearing about it and I find myself wondering what else we don't know and what the investigation is going to uncover. Is it specific to the one incident or will the bank do a review of all REO properties that have not been placed on the market in a reasonable time-frame?

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

Wall Street Journal Blog says it was a $12 Million home the owner was struggling to keep...

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

This is just a disgrace.  I'm always amazed at the audacity of some people.

Posted by Dr. Stacey-Ann Baugh, A doctor who makes house calls. (Century 21 New Millennium) about 9 years ago

I've been poking around researching this and it turns out the people left their artwork and furniture in the home. Wow... Stacey-Ann, this could get really interesting...

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

D. Olick's article provided the link to the property. Very cool. :-)

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

Yes, I was amazed when I saw that article... but then again, nothing surprises me too much. Gee, wonder why the entire industry is imploding?

Posted by Susie Blackmon, Ocala, Horses, Western Wear, Horse Farms, Marketing about 9 years ago

C.,

"sooooooooo wrong"

You call it like you see it......(an admirable trait).

Posted by Julie Chapman, New Homes Sales Lakeland Florida (DR Horton ) about 9 years ago

Susie, this is pretty sad state of affairs. I feel very badly about what happened to the previous owners. I was captivated by the photographs of the home and can't begin to imagine how these people feel...

Julie, thank you for the kind words... I kinda hope the previous owners do get a crack at getting their home back.

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

Hopefully the squatters and the whole company will be in big trouble.  Hopefully, the neighbors got some good videos of people coming and going.  The lawyers will have a field day on this one.

Posted by Virginia Hepp - Mesquite NV REALTOR, Mesquite NV Homes and Neighborhoods - Search MLS (ERA - Mesquite NV Homes For Sale) about 9 years ago

Virginia, I hope when they resolve this there will be some improvements in how the banks handle Shorts and REOs in general  because this whomps.

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

C.

Can you say "bail out funds?" The true colors of bankers and the banking industry are coming out.. nosy neighbors to the rescue!

Banks and mortgage companies are now given BONUS dollars to NOT foreclose... so there you go.. they are taking the money and spending it on VP living bonus and entertaining bank customers.. the cycle continues!

"Guyton is a Wells Fargo senior vice president responsible for foreclosed commercial properties, resident Phillip Roman said."

Your friend in the Cosmic Cow Pie... perfect example of Cosmic Cow Pies!

Posted by Carra & Shae Riley, Helping people Transition at all ages! (Brokers Guild Cherry Creek Ltd) about 9 years ago

Carra, this is a hard pill to swallow... Things are really tough for a lot of people and that family lost the roof over their heads. They had to have been working hard to keep it. To be wiped out because of a scam and to loose a such beautiful home and furnishings... I keep trying to put myself in their shoes. I wouldn't want to be the one reading this and wondering if I could have possibly kept my home with a loan modification... I don't know a lot about this, I only know this whomps...

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

Appalling and they are vermin feeding off the losses of others. Unfortunately, these folks have NO shame!

Posted by Russell Lewis, Broker,CLHMS,GRI (Realty Austin, Austin Texas Real Estate) about 9 years ago

Russell, it really saddens me because I have a vivid imagination and I find myself now wondering all sorts of stuff... People make mistakes. This was a big mistake...

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

C-Tann - Because Westlake Village is just down the road from Malibu, we heard quite a bit about this when the story first broke.  It is despicable and just sooo wrong on sooo many levels.

Posted by Donne Knudsen, CalState Realty Services (Los Angeles & Ventura Counties in CA) about 9 years ago

Donne, I am with you on that line of reasoning... I have friends who lost their homes because they just couldn't make ends meet anymore. They ran out of money because of illness and job losses. I had another friend go into shock because her husband had a heart attack and there was just nothing left. She had no idea... Sometimes people stress about money and don't tell their spouses the truth about how dire things are. When the unexpected happens, they can't catch back up. This recession is harming a lot of good people because of downsizing and this market whomps. I am starting to avoid REOs and Shorts unless the buyer really wants the house because they (the banks) simply take too long to make decisions and the buyers are loosing patience... Last week I only did new construction showings with my out of state buyers. This week is rehab week (LOL). :-)

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

Ahhh, tax payer money hard at work. I'm so glad I paid my taxes to bail idiots like this out! This is why the free market should let stupid companies die and smart companies succeed.

Todd Clark - www.LivingBeaverton.com

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) about 9 years ago

Todd, I am soooooo with you. A free market is a healthy market.

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 9 years ago

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