He beat the system. Man claims 300K house for $16 *Video*

[wr]

People also assume people's mortgages and other property off of liens as well. Just like a mechanic can file a m&m lien on a vehicle for unpaid repair and services and make the car his no matter how much you paid previously. sometimes people can't afford their property taxes, mortgages payments/ wtv. You could assume the persons mortgage as well and take their place as the person sending in the mortgage payment.

 

[coolgraymemo]

Good for him...

 

[coolgraymemo]

Good for him...

 

[wr]

Originally Posted by cguy610

Originally Posted by Wr

Originally Posted by kvsm23vs24


The only reason you could come up with is because of race 

Maybe they were mad $+% hell for him only paying $16 dollars

Or like someone else said lowers down the value of others.

Props to my man, though

It's racism bro. the government, cities and businesses acquire properties through adverse possession all the time. there are business that do nothing but this all the time. With the amount of forclosures these banks holding they gonna have to dump them off some kind of way. They might just have to do what normal people  do. And that is take a loss. At least next time they would be a little more hesitant before investing people's hard earned money in bulls#$$%. 

Possibly race but I think the bigger factor is class.  They see dude as a poor dude living next door to them. 

true. if a bank did the same thing and a corporate looking guy with a suit came over to discuss what happen( if they felt like it because they don't have to disclose anything to their neighbors) there would be no problem. 

 

[wr]

Originally Posted by cguy610

Originally Posted by Wr

Originally Posted by kvsm23vs24


The only reason you could come up with is because of race 

Maybe they were mad $+% hell for him only paying $16 dollars

Or like someone else said lowers down the value of others.

Props to my man, though

It's racism bro. the government, cities and businesses acquire properties through adverse possession all the time. there are business that do nothing but this all the time. With the amount of forclosures these banks holding they gonna have to dump them off some kind of way. They might just have to do what normal people  do. And that is take a loss. At least next time they would be a little more hesitant before investing people's hard earned money in bulls#$$%. 

Possibly race but I think the bigger factor is class.  They see dude as a poor dude living next door to them. 

true. if a bank did the same thing and a corporate looking guy with a suit came over to discuss what happen( if they felt like it because they don't have to disclose anything to their neighbors) there would be no problem. 

 

[queencitysneakerqueen]

Props to him

 

[the coolness]

Damn, with neighbors like those I can see why the previous owner abandoned the house in the first place.

 

[the coolness]

Damn, with neighbors like those I can see why the previous owner abandoned the house in the first place.

 

[queencitysneakerqueen]

Props to him

 

[you go boy]

thats definitely a come up... and i asked myself why these people care so much and just let him do him... then it clicked why they would be mad just looking at the 2 ethnicity involved 

 

[wr]

it's not like dude is gonna live there after 3yrs. he's gonna sell it and walk away from the closing table with a check for 200K+. Maybe they'll be happy with the new neighbors who pay full market price for house since that's what it takes to be a legit homeowner these days.

 

[you go boy]

thats definitely a come up... and i asked myself why these people care so much and just let him do him... then it clicked why they would be mad just looking at the 2 ethnicity involved 

 

[wr]

it's not like dude is gonna live there after 3yrs. he's gonna sell it and walk away from the closing table with a check for 200K+. Maybe they'll be happy with the new neighbors who pay full market price for house since that's what it takes to be a legit homeowner these days.

 

[frank mucus]

I can see the neighbors hating if they themselves are trying to sell their home. You don't want to sell a $300k with a $16 home right next to it. Records probably wouldn't show the home's value as $16 though.

 

[frank mucus]

I can see the neighbors hating if they themselves are trying to sell their home. You don't want to sell a $300k with a $16 home right next to it. Records probably wouldn't show the home's value as $16 though.

 

[wawaweewa]

He doesn't have the house yet. He has no title to it.

He may be granted title after 3 years.

 

[wawaweewa]

He doesn't have the house yet. He has no title to it.

He may be granted title after 3 years.

 

[scshift]

People are always mad whenever someone has something good happen to them

 

[Senoj]

Originally Posted by you go boy

thats definitely a come up... and i asked myself why these people care so much and just let him do him... then it clicked why they would be mad just looking at the 2 ethnicity involved 

So true. I live in Texas so I know how it is out here. San Antonio isn't too bad but Dallas has some of the most racist people in the state. They just don't want a black guy living there who can't afford it. There's no other reason for them to be having "meetings" to get him arrested and/or kicked out. Despicable. Can't wait to get the #%$+ out of the south.

 

[Senoj]

Originally Posted by you go boy

thats definitely a come up... and i asked myself why these people care so much and just let him do him... then it clicked why they would be mad just looking at the 2 ethnicity involved 

So true. I live in Texas so I know how it is out here. San Antonio isn't too bad but Dallas has some of the most racist people in the state. They just don't want a black guy living there who can't afford it. There's no other reason for them to be having "meetings" to get him arrested and/or kicked out. Despicable. Can't wait to get the #%$+ out of the south.

 

[scshift]

People are always mad whenever someone has something good happen to them

 

[pololax]

He must stay there for a minimum amount of years before he could even consider getting the Title..and no offense, you don't own a thing until you have proper documentation in your hand. As someone else mentioned, I don't think the bank closed, just local branches. I don't think he will be there long....

...also for you people saying some are haters/salty etc. you need to look at it from a homeowners perspective. First and foremost, I don't know the area, but from what they were talking about, that seems to be a pretty upscale neighborhood. Imagine you pay top dollar for a home and someone moves in and pays less, let alone nothing, that decreases the value of your property you know that right? Hell Foreclosure really brings down neighborhood prices, no matter where it is. Say he didn't have the money to buy this house without the loophole he uncovered, but now he has it. Say in a few years the house needs renovations, new landscaping, etc. basically something goes wrong with the exterior of the house. Now if you don't have the right financial setting to live in that neighborhood you may not have the money to keep your house up to date. That will also reflect on your neighborhoods property values.

Think about it from a tax standpoint too. He lives in this house, does that give him residency? I don't know but if it does, is he getting free town services? Is he even paying taxes on the property?

It's not a racial thing I don't think. Yes the guy happens to be black, but it could have been a poor southern, hick texas white boy who found this loophole. Those neighbors wouldn't want that in their neighborhood either. It's more a class thing, not race. In my mind atleast.

 

[pololax]

He must stay there for a minimum amount of years before he could even consider getting the Title..and no offense, you don't own a thing until you have proper documentation in your hand. As someone else mentioned, I don't think the bank closed, just local branches. I don't think he will be there long....

...also for you people saying some are haters/salty etc. you need to look at it from a homeowners perspective. First and foremost, I don't know the area, but from what they were talking about, that seems to be a pretty upscale neighborhood. Imagine you pay top dollar for a home and someone moves in and pays less, let alone nothing, that decreases the value of your property you know that right? Hell Foreclosure really brings down neighborhood prices, no matter where it is. Say he didn't have the money to buy this house without the loophole he uncovered, but now he has it. Say in a few years the house needs renovations, new landscaping, etc. basically something goes wrong with the exterior of the house. Now if you don't have the right financial setting to live in that neighborhood you may not have the money to keep your house up to date. That will also reflect on your neighborhoods property values.

Think about it from a tax standpoint too. He lives in this house, does that give him residency? I don't know but if it does, is he getting free town services? Is he even paying taxes on the property?

It's not a racial thing I don't think. Yes the guy happens to be black, but it could have been a poor southern, hick texas white boy who found this loophole. Those neighbors wouldn't want that in their neighborhood either. It's more a class thing, not race. In my mind atleast.

 

[Betonblck]

^ that would be terrible if the he doesn't cut the grass or anything and the place looks a mess 2-3 years from now.

 

[Betonblck]

^ that would be terrible if the he doesn't cut the grass or anything and the place looks a mess 2-3 years from now.