blueshark123

honestly i wish i could buy a house like that around here for 300,000 shit that house here would be triple that price easily.

JaeTea

I'm more pissed that a home like that is worth only 300k!!!

Fucking NJ.

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HyperTek

How would the nieghbors know this guy came up on it? That is what I hate about homeowners associations, they all team up on the house they don't like or the people they don't like etc. I could understand if the dude started making the outside look like shit, which affects the overall look of the neighborhood..

I wonder how the news station got ahold of the story.. neighbors probably called them and reported how this guy got the house, in attempt to destroy him, but it backfired.. He was probably just chillen when the news station contacted him for an interview.. lol

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Keep it Classy

Daniel.

People in suburban middle America have nothing better to do, than to meddle in their neighbor's affairs.

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theicecreamdan

They probably knew the guy that got foreclosed, and feel bad for him/take it out on the guy that came up.

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Otto347

Its all going to come down to "he bought the house for $16 but can he afford it?"

Sure he got it for $16 but the upkeep on the house is whats going to cost money.

He needs to make sure everything works then sell that bitch. Turn $16 into $275,000

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ILoveMyRHS13

Only shitty thing is that he has to live there with no electricity or running water for 3 years. It's completely worth it, but it'll be a long 3 years haha.

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wh0aitznic0

^He probably still lives whereever he was living at before still and just chills in front of the fireplace in his new pad.

Playing this song all day everyday

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theicecreamdan

Why is that ?

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Gnnr

Probably can't get the utilities in his name yet.

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LimeLite Racing

Holy shit that's awesome! And lol @ the jealous ass bitch.

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Drift.

Matador

lol, good luck. Dont forget he has to pay off any and all liens during a sale. That includes bank, utility, and tax liens. Speaking of which, they didnt mention this guy having any intention of paying the taxes on the house.

Robb

If he claims ownership through this law (PA has a similar law), he is relieved of all debts. He will not have to pay taxes until the first year of owning the house.

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Otto347

I wish they would have given more background on what he did for a living. Seems like he knew about this loop hole so maybe he is an upstanding citizen?

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tricky_ab

She's jelly! Those neighbors need to fuck off. Seriously they tried to get him arrested, what the fuck?!? If you don't like the law, then make action to CHANGE IT! I'm going to love hearing the various news reports on how super jelly is going to have him thrown out.

I'm hesitant to call them racist, but that seems like a bit much for a person that is just upset about a new neighbor.

Matador

Honestly, all they really have to do is contact the homeowner and have them file to evict the squatter. Im not sure where they are getting the 3 year deadline, but in the state of TX it takes 10 years for this to work. Most other states are 20-30 if I remember correctly. You can pretty much guarantee that the property will foreclose before he gets close to actually owning it.

tricky_ab

Courts haven't enforced bad faith adverse possession claims in decades. It just doesn't happen. The three and five year statutes require the original owner to file a claim. After that, it seems like anyone claiming the property can file for the deed. And since this guy has filed the adverse possession, the statute of limitations clock started with that and he would be second in line if the original title owner does not step forward.

And obviously if the original deed owner steps forward, they would need to re-assume the mortgage payments. This guy wouldn't because he never signed loan paperwork in the first place. He is under no obligation to pay for the mortgage. The original deed-holder did and is still obligated to that debt.

HyperTek

he is getting the place because there is no home owner.. person who had the place left because they couldn't pay it.. and mortgage company went out of business. He just has to stay there for 3 years to show that no one is coming to claim the place, then it will be his.

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tqstarburst

Someone should make a decal of this and send it to him or, a huge sign for the front of his yard!.

Daniel.

Thank you for your informative explanation. Everyone needs to read this.

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whiterps13

He should have kept his big fucking mouth shut.

Instead, he pissed people off by going on the news and stirring up the pot, essentially bragging about it. Now that people know about this, hundreds are going to try this themselves, and most likely it will end up in some type of legal process to reverse this loophole. Its an awesome idea, and I applaud his ingenuity. I bet it backfires.

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godrifttoday

That's one smart black man!

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atom

So the reason he can do this is because nobody bought up the assets when the mortgage company went out of business?

This seems like a freeroll for the original title holder too. If the housing market in that area rises within 3 years he can lay claim to it and make a decent profit by flipping it. If not, whatever, let the dude have it.

Daniel.

How do you know he actively sought out the media? There was speculation earlier in the thread that his neighbors might have actually been the ones trying to get media attention.

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BoostSlideWayz

Man fuck those neighbors ... why do they care that he is there.. they should only be mad if hes like causing annoying noise from parties or like not maintaining the property .. not about how he got the house.. he did something really smart that most people dont even know how to do. People like that piss me off its like stop wasting your time hating on that person and just live your own life... Im glad....

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Matador

You are correct in that he would not assume the debt, but the debt is still tied to the property. Someone mentioned earlier that he should sell the house and pocket the difference. This is not possible with 1-2 mortgages and any additional tax liens on the house. The foreclosure was obviously not completed as this is not a bank owned property so all liens are in tact. So whoever bought up the last companies assets will be able to move forward with the foreclosure regardless of the squatter legislation. He's just hoping to god they dont notice and he gets a free ride for a while.

fckillerbee

fuck that bitch. pay for it like everyone else...get out of here. You would jump on this too if it happened and wouldn't pay 300k for a house you can get for $16.

ThatGuy

I think the neighbors might be looking at it in this way:

Typically, people who don't pay for things, don't take care of things.
If you disagree with this statement, I ask that you look no further than the pages of Zilvia and the perfect examples of that very statement.

I say good for this guy, but I can see where the neighbors might be upset.
Though going on the news to bad mouth him, isn't the way to handle it.

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fyneyoungstunna

Racist.
Im pretty sure the company is liquidated, or in terms does not exist. No assets to be bought, or the majority holder would have come forward a lot sooner. Unless in a twist, the guy in the house IS the majority holder...........
Even if they do come forward, the process, paperwork and court dates will probably favor the this guy from a buying time standpoint as it will have to be a federal order to freeze his proverbial clock for ownership.

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icedsole

lmao fucking this right here!!

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