Squatter Rights? in the United States ....??? What is going on!

By
Real Estate Agent with Real Estate International, Inc. 013146

I visited Panama 18 months ago and for the first time I've heard and
experienced seeing "Squatters" in properties who refused to move out
and the only way the seller can sell or build on the property they own he
must provide housing for these "Squatters" somewhere else. 

When I heard this week that U.S. Citizens who do not pay for their
mortgages should exercise their "Squatter Rights" I could not believe
my ears.  I feel very sad for people who have lost their jobs or whose
mortgage payments have gone up, however, what is this country
coming to?  Is a borrower who signs the LEGAL NOTE - Promissory
Note to repay the loan they have obtained off the hook the minute they
lose their job or decide no longer to pay their payments?  Do they now
have the right to proclaim to be a "Squatter" and live in the home? 

People should be held accountable for repaying their mortgage.  I
totally agree that banks and lenders need to work with them so they
don't lose the roof over there head, however, what kind of a message
are we sending to those individuals who take on 2nd and 3rd jobs just
to pay their mortgage? 

I currently have a seller who owns a duplex and they have a "Squatter"
that decided to move in and they can't seem to get him out.  This is
truly becoming a "jungle".  This is not right! 

If you have experienced this or have any comments, I would love to
hear your point of view on this. 

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Topic:
ActiveRain Community
Location:
Georgia
Groups:
Atlanta Real Estate Q&A
Christianity and Real Estate
Tags:
squatter rights
housing
holding borrowers accountable when they sign a note

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Rainer
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Jay Williams
Mortgage Loan Officer - Getting You The Right Loan
Greenville, NC

Dagmar, I will be interested in hearing how the squatter in the duplex works out. On what premise is the owner not able to have them removed from the property?

Jay

February 06, 2009 03:27 PM
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Rainmaker
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Dagmar Sands

www.DagmarSands.com
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Additional Information

Dagmar sells Luxury Homes, Commercial, Unique Properties, Churches, Private Islands, Schools, Office Condos, Lots, Land, Retail, Apartments and Mixed Use Developments in Johns Creek, Atlanta, Alpharetta, Duluth, Suwanee, Norcross, Buford and Metro Atlanta, Georgia Area. She loves SHARING about advertising, marketing, ideas, dreams, goals, exciting news, friendly tips and anything that Realtor and Real Estate Related Professionals need. She is the Founder of the New Concept called "Become the Mayor Of Your Own Real Estate Village" and her Real Estate Village that she's the Mayor of is called Johns Creek City Guide.