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Thursday, October 14, 2010
California with nine kids Breaks Locks and Reclaims Foreclosed Homes
This local California family with 9 kids went to the extreme to keep their foreclosed house. They originally purchased the house many years ago for over $500,000 and eventually borrowed over $1 million on the property---Needless to say, after a little while they fell behind on their monthly payments and got evicted.
Well after foreclosure-gate and the wrath of the robo-signers signing fraudulently on loan documents the family of Jim and Danielle Earl hired a lawyer so that they could stay on Mustang Drive. Well they managed to get a locksmith to open up the house for them and they moved in---effectively squatting in their old residence. Which must tick off the investor who acquired the property, invested tens-of-thousands of dollars in fixing it up prior to selling it to a new owner... The Earls managed to break in before the new family took position.
In my opinion, the Earls are fully taking advantage of the situation... They borrowed $1 million and now want to own the home free and clear with out paying anything. I think they are delaying the inevitable; but this situation may cost the title insurance company a lot of aggravation seeing as how the title has been based to 2 different people after the Earls.
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