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

Posted by

 

 

 

Susan Laxson of Laxson Realty

Active Rain Laxson   Facebook Laxson   LinkedIn Laxson   Stumbled Upon Laxson   Twitter Laxson   YouTube Laxson   Search MLS Laxson Realty   La Jolla Real EstateWebsite   

To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2011 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

close

Re-Bloggged 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
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the lock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Mortgage / Finance
Groups:
Adventures in Real Estate
REALTOR LIFE
Realtors®
All Real Estate - Today & Tomorrow
Tags:
foreclosure news

Comments 54 New Comment

Ambassador
1,252,825
Robert (Vegas Bob) Swetz
Commercial & Residential Real Estate Agent
REALTY ONE GROUP - LAS VEGAS, NEVADA 702.443.7156

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 ;)

October 06, 2010 08:39 PM
Rainmaker
246,017
Palm Properties l La Jolla Real Estate

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

October 06, 2010 08:47 PM
Rainmaker
1,203,902
Carla Muss-Jacobs, Principal Broker/Owner
Buyer Focused ~ Buyer Results
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time

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.

October 07, 2010 06:12 PM
Rainmaker
246,017
Palm Properties l La Jolla Real Estate

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

October 07, 2010 07:11 PM
Rainmaker
1,203,902
Carla Muss-Jacobs, Principal Broker/Owner
Buyer Focused ~ Buyer Results
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time

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 ...

October 07, 2010 09:59 PM
Rainmaker
246,017

Palm Properties l La Jolla Real Estate

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clip to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

La Jolla Real Estate & Community News Blog & Website Laxson Homes

Create Your Badge
La Jolla, CA Current Weather

Page copy protected against web site content infringement by Copyscape DISCLAIMER: The information contained in the articles is deemed reliable but is not guaranteed, and the opinions expressed in these articles are mine.