Man eludes foreclosure and eviction from house for 20 years.

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WhatInThe

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A Long Island man has eluded foreclosure/eviction from a house he made one payment on in 20 years. He used years of frivilous lawsuits and/or tranferred the deed to others living in the house(shouldn't matter if he's already in foreclosure/bank owns home). He was in foreclosure proceedings by the end of his first year in the house. One bank spent $150,000 in litigation and $50K in taxes. Its' estimated the occupant avoided $440K in payments.

https://nypost.com/2021/05/01/ny-man-dodges-eviction-for-20-years-living-in-foreclosed-house/
 

ohioboy said:
The article says he claimed bankruptcy 7 times in 23 years, that's baloney right there. Chapter 7's are only permitted every 8 years and 13's are only permitted 6 years after a 7. Numbers here do not jive.
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He might have gotten around that by tranferring the deed several times. Or he might have filed so many motions and appeals there wasnt a completed bk on file
 
WhatInThe said:
He might have gotten around that by tranferring the deed several times. Or he might have filed so many motions and appeals there wasnt a completed bk on file
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Transferring the deed would be, in law, considered a Fraudulent Conveyance. Hiding or transfering assests as such is against the U.S. Bankruptcy Code. The whole story seems made up.
 
ohioboy said:
Transferring the deed would be, in law, considered a Fraudulent Conveyance. Hiding or transfering assests as such is against the U.S. Bankruptcy Code. The whole story seems made up.
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They mention that he should've never been allowed to do that but one friend he signed the deed over to was one of the BKs.The original buyer appears to filed 5 BKs in 5 years. Apparently filing bankruptcy gives the buyer an automatic stay on foreclosure.

Also the housing bubble took out banks and paper work. Seem to remember the lack documentation being a big loop hole. Throw in 2 different banks and a real estate firm owned after the original buyer that probably slowed things. I guess he used technicalities like outdated information on paper work to delay.
 
jujube said:
A former neighbor of my sister's managed to go five years without making a single mortgage payment, by "playing the game". She even rented it out two of those years, thus making money off of it to boot.
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I can buy 5 years of legal wrangling, but not 20.
 
WhatInThe said:
They mention that he should've never been allowed to do that but one friend he signed the deed over to was one of the BKs.The original buyer appears to filed 5 BKs in 5 years. Apparently filing bankruptcy gives the buyer an automatic stay on foreclosure.
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Sure, filing a BK Petition creates an automatic STAY, but the facts seem too way out to believe there was nothing llegal in the proceedings by the alleged joint tort-feasors.
 
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