A Foreclosure & A Felony

Foreclosures always have a story behind them.  The story that I heard on the news this morning made it all the more apparent that these stories not only have heartbreak, but also anger and frustration at the system.  Our banks have failed us.  The number of friends, Foreclosure Debaclefamily and clients that I know who are not getting their loan modifications through the banks is demoralizing.

Today, in what could be the first in Riverside County, a San Diego police officer and his real estate agent wife have been charged with a felony in the trashing of their six bedroom home near Murrieta.  The damage totaled $200,000 from stones smashed off the facade to dye poured on the carpets.  Walls were spray painted black, wiring had been cut and the garage door was missing.  Appliances and fixtures were removed, wiring stripped and trees tossed into the swimming pool.

The neighbors were interviewed and said that the couple had put their "heart and soul" into their home and it was the best in the neighborhood.  A friend of the wife and neighbor said that the couple had done everything that the bank had told them to do including getting rid of car payments, paying off other debt and despite lender promises, their loan modification was still denied and the home went into foreclosure.  When the husband asked to borrow a sledgehammer from the neighbor, the neighbor told a reporter, "I knew it had gone too far".

If convicted, the couple face up to four years in prison and reportedly warrants are out for their arrests.  The bank officials who signed off on tens of thousands of foreclosures without reviewing them legally, will not be prosecuted. 

 

Related Post:  A Foreclosure, A Felony & A Perception

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Susan Laxson of Laxson Realty

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Nevin Williams 10/05/2010 12:36 AM
  2. Dub Walters 10/05/2010 09:24 AM
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Rainer
26,051
Michelle Plumb
Coldwell Banker Ocean Beach Properties - Ocean Shores, WA

This is a sad story but one that should be brought to the attention of the politicians. They need to do something to fix this mess instead of letting it continue.

Oct 05, 2010 03:03 PM #35
Local_partner
823,762
Ricky Khamis
Amerifirst Financial, Inc. - Mesa, AZ
NMLS 173141 | CADOC 173141 - 480-339-1565

These type of stories are all around is in every walk of life, it is really sad.

Oct 05, 2010 03:28 PM #36
Rainmaker
1,370,999
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

I read the article in our local newspaper. I also wrote a letter to our editor as follows....

As a full service Real Estate Broker in the business, I read your article in regards to alleged misconduct of a foreclosed homeowner. While I cannot condone any behavior that violates existing rules & regulations, the question begs to be answered…What would cause this type of behavior..? Here’s a clue…try calling your bank, discussing your home, and then sharing the experience.HINT: It’s not pleasant……is putting it mildly. Perhaps the real story is cause and effect..and expert crazy-making at work.

Thank you for letting me share.......Susan

Oct 05, 2010 03:35 PM #37
Rainmaker
853,032
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

Sad and heartbreaking. But this is what happens when people are sentenced to death by bank red tape. My heart goes out to these people, and I hope that they don't have their lives ruined as a result. They probably felt betrayed. 

Oct 05, 2010 03:38 PM #38
Rainmaker
183,680
Kate McQueen, SRS
KELLER WILLIAMS REALTY CLEAR LAKE NASA - League City, TX
Houston Bay Area Real Estate, League City-Bay Area

People can be driven to do things they would never do under normal circumstances, but it's too bad they chose to respond to the problems this way.  The bank may have errors and problems in the file that are grounds for a lawsuit for this couple, but it looks like when they hire an attorney it will be a criminal defense attorney.  I'm sorry for what happened to them, and can imagine that after months of jumping through hoops with their emotions fully invested, they reached a breaking point -- but the wife is a Realtor and her license may be at risk here.  The husband is a police officer and this could cause him to be reprimanded or lose his job.

I think we're going to hear a lot of desperate stories.  I worked for an REO management company here in Texas in the 1980s when we were overwhelmed with foreclosures.  It was depressing...

 

Oct 05, 2010 03:50 PM #39
Rainer
35,951
Virginia OnullConnor
RealtorĀ®, Photographer, Artist - Temecula, CA
Realtor - Temecula, Anza, SoCal

I agree with Fred #15 and Philip #37

It is heartbreaking, and it sickens me that banks and other institutions get away with far worse, and ge bailed out. They need to be prosecuted for this mess and bear consequences just like the borrowers.

I can't condone them trashing the home. Still, who knows what a red tape nightmare this bank put them through before the end. It is like a death for these people. If you want to find out how far people will go, push them against the wall with no way out.

Oct 05, 2010 04:05 PM #40
Ambassador
1,590,840
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Susan, this is an example that while a product, with people involved it is an emotionally charged product.

Oct 05, 2010 04:54 PM #41
Ambassador
1,294,888
Erica Ramus
Erica Ramus - Ramus Realty Group - Pottsville, PA - Pottsville, PA
MRE, Schuylkill County PA Real Estate

People do all kinds of emotional things when pushed to their breaking point.

Oct 05, 2010 05:51 PM #42
Ambassador
1,113,148
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

I heard this on the news and I just don't get it. You cannot pay so you have to go. Why so much hostility?

Oct 05, 2010 10:13 PM #43
Rainmaker
351,538
Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

I think we will see and hear more of this in the future.

Oct 05, 2010 10:15 PM #44
Anonymous
Anonymous

So what were they charged with?

Oct 06, 2010 02:33 AM #45
Anonymous
Anonymous

So what were they charged with?

Oct 06, 2010 02:33 AM #46
Rainmaker
718,781
Pamela Seley, REALTORĀ®
REALTY EXECUTIVES OTF - Temecula, CA
Seals the Deals in Temecula Valley California

Although I understand their frustration, nothing justifies purposely destroying property. This couple has now made that property difficult to sell, and further lowered the neighborhood's standard.  Unfortunately they will need a good criminal attorney.  "two wrongs don't make a right."

Oct 06, 2010 03:10 AM #47
Anonymous
Anonymous

Wow that's sad.   They didn't think things thru and acted irrational.  I do understand their frustration and hope that they get a judge that sympathize with them

Thank you Susan, very interesting post

 

 

Oct 06, 2010 08:23 AM #48
Rainmaker
179,755
Billie Hillier
Summerlin Is Home - North Las Vegas, NV
Savvy Home Realty Solutions

I saw this on our local news here in Las Vegas and couldn't believe the story. Lives ruined beyond losing their home....

Oct 06, 2010 06:56 PM #49
Ambassador
1,393,623
Robert (Vegas Bob) Swetz
REALTY ONE GROUP - LAS VEGAS, NEVADA 702.443.7156 - Las Vegas, NV
Commercial & Residential Real Estate Agent

Hello Susan and sorry I missed this post and it is sad, congrats on the feature and let's keep this post alive with another feature at ...

All Real Estate - Today & Tomorrow

VB ;)

Oct 06, 2010 08:39 PM #50
Rainmaker
246,517
Palm Properties l La Jolla Real Estate
La Jolla, CA

Thank you for the feature on "All Real Estate - Today & Tomorrow" VB.  I am looking forward to hearing about your motorcycle trip as I was a big fan of Easy Rider & Peter Fonda :-)!  ~ Susan

Oct 06, 2010 08:47 PM #51
Rainmaker
1,334,295
Carla Muss-Jacobs, Principal Broker/Owner
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% o... - Portland, OR
Buyer Focused ~ Buyer Results

Nevin's re-blog sent me over.  Didn't hear about this, but what a tragedy.  There are a lot of loan mods that were in review, then denied.  Then the bill was sent . . . people snap.  For those who aren't facing financial crisis, I don't think they understand how close to the edge others, who do face these things, are.

Oct 07, 2010 06:12 PM #52
Rainmaker
246,517
Palm Properties l La Jolla Real Estate
La Jolla, CA

Thank you Carla for your comment and I agree.  The couple was arraigned in court today and are out on bail.  Their attorney said that the lender over exaggerated the claims of destruction, but it was pretty bad.  Perhaps they should be facing civil charges, but not criminal.... a possibility of four years in prison and the lenders don't even get their hands slapped.   ~ Susan

Oct 07, 2010 07:11 PM #53
Rainmaker
1,334,295
Carla Muss-Jacobs, Principal Broker/Owner
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% o... - Portland, OR
Buyer Focused ~ Buyer Results

And, not only that . . . they are now without careers.  This would be a felony.  He won't be on the police force, and she won't be able to keep her license.  And I agree with the outrage of the Banksters getting off FREE.  Two wrongs don't make a right, and I'm very sorry for this family that they snapped.   Remember when Martha Stewart was dinged for $100,000 insider trading (a drop in the bucket), and did time.  Oh, but the fraud that was/is perpetuated on the American people by the banksters, and nothing ...

Oct 07, 2010 09:59 PM #54
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Rainmaker
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Palm Properties l La Jolla Real Estate

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