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Free house for any deliquent CA mortgage owner.

By LarryPatrickMaloney   2010 Mar 16, 4:25pm   ↑ like (1)   ↓ dislike   5 links   41,174 views   96 comments   watch (1)   share   quote  

Pay VERY close attention to this post.  If you are a bank property manager, you better learn what I’m about to teach you.

If you are home owner, you better try to hang on to your house and live in it for free.

In the state of California, a person can take an abandoned home, move in and live in it.  Provided, nobody is going to contest it.

I’m not going to give you all the gory details, but it’s called “adverse possession”.

Essentially, if you live in the house for five years, pay the bills, including the property taxes, the house is yours.  You can get a new title on it.

Even if there is an outstanding mortgage.  All lien holders are wiped out.

So, for all your “squatters” out there, if your bank keeps dragging out your foreclosure, if you can hold out for a total of five years (for those of you who are two years in, you just have three years to go.) you will be able to 100% get out of  your mortgage, and own your home scott free.

I’m sure you doubt me, but it’s true.  You would go to a judge, and demonstrate your case of adverse possession, and the banks existing lien, that you OWE on will be wiped out.  The house becomes yours, with no mortgage payments.  Zero, nada, nothing.

Now, I debated about writing this publicly, because I want to jealously guard this “open secret” to my advantage.  However, it’s more to my advantage if the banks are schooled in the law, and get motivated to start dumping their holdings.  I’m sure the attorneys on staff at banks know about this law, but I’m willing to bet, most of them don’t really understand it, because they haven’t read it in detail, nor do they have any experience with it.

So, you bankers out there, that eventually read this post, you better get schooled real fast.  If you wait over five years to foreclose, you are going to lose any claim you have on a property.  That means all your backed up properties are going to be lost.   You banks have corrupted the regulators who are over seeing you, and you aren’t motivated to clean your books by those regulators anymore.  However, you damn well will be motivated when thousands of homeowners start taking their houses back, and wiping their mortgage obligations to you.

Homeowners,  you need to scheme and plan on how to PHYSICALLY stay in your house for five years, PAY your property taxes (don’t let the bank do it)  If you send in your mortgage payment, the bank will pay your property taxes.  You need to pay your property taxes directly to the county, AND not let the bank do it.  You need to keep all your payment records of your utilities, insurance, etc to prove you have lived there for five years.

After five years, of living there as a defaulted home owner, go to court, and get those liens wiped out.

Maybe I should write a book on how to do this….. )

Larry P. Maloney

Mountain View CA.

** Update:  Here is how it's done: http://www.infowars.com/toledo-man-streams-foreclosure-occupation-over-internet/

#housing

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57   corntrollio     2011 Oct 19, 10:05am  ↑ like   ↓ dislike (1)   quote   top   bottom   home   share  

ptiemann says

It's quite interesting to observe the errors that assessor and recorder's office make.

ptiemann says

But people doing basic record search using web sites like ForeclosureRadar.com or RPRecord Search will be misled.

Are you sure it's the assessor/recorder making the error and not ForeclosureRadar or other site?

ptiemann says

A preliminary title report (issued by Chicago Title) also shows me as the owner.

ptiemann says

Chicago Title thinks the previous owner still has it.

If a title report is showing you, are you absolutely sure that your LLC owns it? Maybe I'm not understanding the difference between a "preliminary" title report as opposed to a proper title report? It seems odd that a title company would get this wrong.

58   corntrollio     2011 Oct 20, 3:15am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

ptiemann says

The big title companies have their own 'in-house' database which is effectively a copy of the recorder's data. They update their database periodically. Daily? I don't know.

Actually, I think it might be daily for the biggest companies. I think I remember reading something about a legal case that implicated this recently and said that the title company was getting a CD with the data every day.

I'm surprised to hear that your experience with title companies includes many erroneous title reports. Considering that title insurance probably has the lowest payouts of any insurance, I find it odd that they're so lax.

Also didn't know that the prelim is the same software as ForeclosureRadar -- that explains the similar errors.

59   LarryPatrickMaloney   2/2 = 100% civil   2011 Nov 4, 5:49pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

PockyClipsNow says

This is really a myth.

There is almost no one. ZERO. that has done this sucessfully in the last 10 years and where its a decent area as far as I know.

Its like the 'you dont have to pay income taxes, its unconstitutional myth'. just try it.

Oh really?

http://www.wimp.com/manbuys/?source=patrick.net

60   EastCoastBubbleBoy     2011 Nov 4, 11:13pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

IANAL - but wouldn't he have to be paying the taxes on the house in order to have an adverse possession claim?

61   Nomograph     2011 Nov 4, 11:58pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

LarryPatrickMaloney says

Oh really?

Didn't you see your own link? He didn't get ownership, HE IS JUST SQUATTING. He doesn't own shit, he just filed a piece of paper.

Why is it that bums, mooches, and freeloaders like Larry Patrick Maloney feel they are entitled to free houses?

Here's some advice from Uncle Nomo: Get a job, sir.

62   Nomograph     2011 Nov 5, 12:07am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

WHERES MY FREE HOUSE LARRRY I WANT ME FREE HOUSE

63   Bap33     2011 Nov 5, 1:19am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Nomograph says

LarryPatrickMaloney says



Oh really?


Didn't you see your own link? He didn't get ownership, HE IS JUST SQUATTING. He doesn't own shit, he just filed a piece of paper.


Why is it that bums, mooches, and freeloaders like Larry Patrick Maloney feel they are entitled to free houses?


Here's some advice from Uncle Nomo: Get a job, sir.

great advice, in my opinion. How are you getting along Doc?

64   Nomograph     2011 Nov 5, 1:25am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Bap33 says

How are you getting along Doc?

Pretty well, thanks . . . I just flamed you in a different forum.

65   mdovell     2011 Nov 5, 1:33am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Thought this was flame war but it's been going on for over a year now it seems...

My question pretty much is what if someone does not know who specifically is the bank? Given how much has been consolidated and sold to other banks it isn't always as clear as what some might think. If there is just one bank and they are assured it is just that bank then this should be simple.

This might also apply in Texas. A man bought a house for $16!
http://www.youtube.com/watch?v=OsW-qDCA-oU

On the same level there is a thing called a tax lien certificate in that if someone doesn't pay property taxes they put a lien up at auction. If you buy it (assuming you win) you are paying those property taxes. The debtor has a given period of time to pay it off plus a penalty of interest to you. If they don't pay it then you get the house. This process varies all over the place depending on the state and some states vary by the locality. In RI it is 10% and a addition 1% each month for the next six months. Even if they can suddenly pay it off the next day they still legally have to give you 10%. There are groups that did this for investment purposes (16% solution - a book details this but it's 20 years old). Now it is iffy for an investment unless you really want to put money into these houses and flip them.

66   Nomograph     2011 Nov 5, 1:36am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

mdovell says

This might also apply in Texas. A man bought a house for $16!
http://www.youtube.com/watch?v=OsW-qDCA-oU

No he didn't you dumbfuck. Try actually watching the video YOU JUST POSTED.

He is squatting, nothing more.

(HINT: Bums, freeloaders, deadbeats, and squatters never amount to anything)

67   bill1102inf     2011 Nov 5, 3:12am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

First you need to understand WHY banks are not pursuing foreclosures. Its not what you think. Ever heard of BALANCED BOOKs??? Yes you have. You have two columns, and what you put in them has to balance.

When bank A makes a $200,000 loan, it goes on their asset AND liability side. When you stop paying, they charge fees, fees, fees, and penalities which go on the ASSET side ONLY (because they did not lend you that money). Due to corruption at the highest level, banks are allowed to carry 'AT PAR' because if they had to mark to market, they would (and are) insolvent.

How much is a 2nd mortgage behind a 1st on a property that is underwater on the 1st worth??? Its worth $0.00 right? To you and me , yes. To the bank, its worth 'PAR' or full face value.

Example $200K first, 50K second, value of house $150K.
House is 50K underwater on first, making the second worth exactly $0.00, actually less than zero because someone somewhere has to do something which is going to cost money.

Anyway, for the meantime, the loans are marked at full face value.

IF THEY FORECLOSE and sell the property for $140K-expenses and net $125K, they now have to write a LOSS of $150,000 as in Asset= $0.00 Liability $150,000.

This is very BAD for banks, as if you can do multiplication and you use a factor of say 10million, you have a loss in the hundreds of billions.

All big banks are insolvent. This is a just a game in the Matrix folks.

68   Bap33     2011 Nov 5, 11:20am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Nomograph says

Bap33 says



How are you getting along Doc?


Pretty well, thanks . . . I just flamed you in a different forum.

yea, I kinda found that right after I left here earlier ... funny it was, the timing, yes. (say that last part like Yoda)

69   LarryPatrickMaloney   2/2 = 100% civil   2011 Nov 13, 2:34pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

70   JG1     2011 Dec 19, 3:04pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

LarryPatrickMaloney says

Wanted to follow up on my original post, and provide an interesting article.


In case I wasn't clear, if you are foreclosed upon, you should try to stay in the house. Fight to stay, and if you can stay for five years after foreclosure, you have a case for adverse possession.


Also, check out this article:


http://www.miamiherald.com/2010/05/24/1645122/new-rule-says-banks-must-prove.html?story_link=patrick.net

Actually, the decent and moral thing to do would be move out, clean, and call the bank and ask where to drop the keys. All before being evicted or foreclosed on.

71   Nomograph     2011 Dec 19, 11:01pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

WHERES MY FREE HOUSE LARRY YOU PROMISED ME A FREE HOUSE ON THE INTERNETS

72   propmgrjay     2011 Dec 20, 10:13am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

One requirement to take title through adverse possession, is that your possession is "hostile to the interests of the owner."

If you're already on the title as the owner, this wont work because you can't possible be possessing the property, hostile to your own interests.

Please do not take this guys advice!

73   StoutFiles     2011 Dec 20, 10:13pm  ↑ like (1)   ↓ dislike (1)   quote   top   bottom   home   share  

It would be difficult to convince my fiance that breaking into a foreclosed house and living there like hobos for 5 years while hoping the bank doesn't notice is a good life choice.

74   LarryPatrickMaloney   2/2 = 100% civil   2012 Feb 6, 3:23am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Nomograph says

WHERES MY FREE HOUSE LARRY YOU PROMISED ME A FREE HOUSE ON THE INTERNETS

Here you go "Nomograph":

http://detroit.cbslocal.com/2012/02/06/detroit-squatters-may-be-allowed-to-keep-homes/

75   Norbecker     2012 Feb 6, 11:56pm  ↑ like   ↓ dislike (1)   quote   top   bottom   home   share  

Well this guy got to live in a nice house for $16 for 8 months. I guess he can try to find another.

http://www.khou.com/news/texas-news/Original-adverse-possession-squatter-gets-eviction-notice-138405394.html

He wrote the book and he got the boot.

76   LarryPatrickMaloney   2/2 = 100% civil   2012 Feb 27, 2:26pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

So, did anyone read this post, from this great Dr. HousingBubble article about 9 years of properties in CA?

http://www.doctorhousingbubble.com/california-has-nearly-9-years-of-housing-supply-58-county-mls-supply-and-foreclosures/#comment-58724

"Lyle
October 4, 2010 at 10:15 pm

Note that in Ca the adverse possession laws apply after 5 years of paying taxes and with color of title. So that means any action against the foreclosing bank, can only get the house back for 5 years, because after that the current owner (or member of a chain of owners since the foreclosure), has aquired the ownership by adverse possession. So if people want to reclaim then need to start filing now. Of course this is a great way to solve the surplus of Lawyers in the US."

Can I get some smilies?

77   APOCALYPSEFUCKisShostikovitch     2012 Feb 27, 2:39pm  ↑ like (4)   ↓ dislike   quote   top   bottom   home   share  

I believe everything I read on the Internet.

78   Songbirdsings     2012 Mar 16, 7:51am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

Somebody has to pay the taxes in a timely fashion, not necessarily the adverse possessor. See below.

California Code of Civil Procedure Section 325
Legal Research Home > California Laws > Code of Civil Procedure > California Code of Civil Procedure Section 325
(a) For the purpose of constituting an adverse possession by a
person claiming title, not founded upon a written instrument,
judgment, or decree, land is deemed to have been possessed and
occupied in the following cases only:
(1) Where it has been protected by a substantial enclosure.
(2) Where it has been usually cultivated or improved.
(b) In no case shall adverse possession be considered established
under the provision of any section of this code, unless it shall be
shown that the land has been occupied and claimed for the period of
five years continuously, and the party or persons, their predecessors
and grantors, have timely paid all state, county, or municipal taxes
that have been levied and assessed upon the land for the period of
five years during which the land has been occupied and claimed.
Payment of those taxes by the party or persons, their predecessors
and grantors shall be established by certified records of the county
tax collector.

79   Nomograph     2012 Mar 18, 12:50am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

LarryPatrickMaloney says

Free house for any deliquent CA mortgage owner.

LARRY I WANT MY FREE HOUSE WHERE IS IT LARRY YOU PROMISE ME

80   elliemae     2012 Mar 18, 4:59am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

StoutFiles says

It would be difficult to convince my fiance that breaking into a foreclosed house and living there like hobos for 5 years while hoping the bank doesn't notice is a good life choice.

She/he sounds unreasonable. Dump him/her, find someone who appreciates squatting and have at it.

APOCALYPSEFUCK is Tony Manero says

I believe everything I read on the Internet.

I'm the Queen of England, just haven't posted pics of my corgis 'cause it would have given me away.

Nomograph says

LARRY I WANT MY FREE HOUSE WHERE IS IT LARRY YOU PROMISE ME

Take your neighbor's while they're on vacation. Duh.

81   xenogear3     2012 Mar 18, 5:26am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

I don't think the banks are that stupid.

82   curious2   225/225 = 100% civil   2012 Mar 18, 7:22am  ↑ like   ↓ dislike (1)   quote   top   bottom   home   share  

[...]

83   LarryPatrickMaloney   2/2 = 100% civil   2012 Jul 5, 1:34am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Looks like CA might start taking the houses from Banks...

http://online.wsj.com/article/SB10001424052702303933404577505013392791018.html

84   iwog   472/472 = 100% civil   2012 Jul 5, 1:43am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

LarryPatrickMaloney says

Looks like CA might start taking the houses from Banks...

http://online.wsj.com/article/SB10001424052702303933404577505013392791018.html

Good. I couldn't agree more. Banks need to foreclose and sell their homes to someone who cares or they need to walk away.

This army of zombie homes we've got now with deteriorating buildings and jungle landscapes must get resolved and it's the banks who refuse to do anything about it.

85   iwog   472/472 = 100% civil   2012 Jul 5, 2:16am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

The problem with code enforcement is that in many cases, the owner has already moved out or is facing bankruptcy anyway. You can't enforce violations on a lender holding a deed of trust, so the banks let these homes sit for years.

I think that's what is being suggested. Squeezing landlords is no problem but banks end up having all of the power and none of the responsibility when the hold a mortgage.

86   LarryPatrickMaloney   2/2 = 100% civil   2012 Jul 5, 5:10am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

iwog says

LarryPatrickMaloney says

Looks like CA might start taking the houses from Banks...

http://online.wsj.com/article/SB10001424052702303933404577505013392791018.html

Good. I couldn't agree more. Banks need to foreclose and sell their homes to someone who cares or they need to walk away.

This army of zombie homes we've got now with deteriorating buildings and jungle landscapes must get resolved and it's the banks who refuse to do anything about it.

Did you even READ the excerpt? This article is about the local municipality using eminent domain to take the property, not the bank!

87   LarryPatrickMaloney   2/2 = 100% civil   2012 Jul 15, 1:28pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

'Squatters' win restraining order against RE Agent.
=========================================

Area real estate agent said she's being taken to court by squatters in Antioch who have taken over a house she's trying to sell.

As many as three people have been living in the Concord home since December. Even though the owner never gave them permission to move in, they're apparently not moving out without a fight....

http://www.ktvu.com/news/news/squatters-issue-restraining-order-against-real-est/nMfBm/

How did we miss this?

88   E-man     2012 Jul 15, 3:39pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

LarryPatrickMaloney says

'Squatters' win restraining order against RE Agent.

=========================================

Area real estate agent said she's being taken to court by squatters in Antioch who have taken over a house she's trying to sell.

As many as three people have been living in the Concord home since December. Even though the owner never gave them permission to move in, they're apparently not moving out without a fight....

http://www.ktvu.com/news/news/squatters-issue-restraining-order-against-real-est/nMfBm/

How did we miss this?

Imagine what would happen to these squatters if this were in Texas. Welcome to California. :)

89   LarryPatrickMaloney   2/2 = 100% civil   2012 Sep 19, 6:26pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

90   LarryPatrickMaloney   2/2 = 100% civil   2012 Oct 25, 12:07pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Again, nobody is putting 2+2 together.... The banks are allowing squatting, and if you can do it long enough, you could clear your liens.

http://ochousingnews.com/news/september-delinquencies-skyrocket-7-72-foreclosure-filings-decline-20-4-shadow-inventory-grows

91   carsonj     2012 Oct 30, 2:38am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

Im not sire the details, but happens to people in prison, or did in one instance, happened to a familly member of mine here in California. How I fit in this whole thing, I will explain. sucks for me and my brother is how. Now im buying a old rotten stick in sand house next door. When house squat heisting try really hard not to due it to people you know! Someone fathers thatn has kids may be doing time and you may know that because your friend or familly and you might move in and you might legally end up owning there home! Understand that its usually people you know that you get the opportunity to take everything from. Marry there gal, quit there company start your own. Unfortunate fact of life. It hard to be straight, I am, and im broke and I will own my shack in 8 more years.

92   LarryPatrickMaloney   2/2 = 100% civil   2013 Jan 13, 8:56am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Zombie Foreclosures: Yet another reason to get your 'free' house.

Remember, in California, you just have to go FIVE years, and you can 'quite' your title.

Just like this guy found out the hardware. Adverse possession laws can be a good thing.

http://www.nbcnews.com/business/zombie-titles-haunt-victims-home-foreclosure-1B7933378#

93   LarryPatrickMaloney   2/2 = 100% civil   2013 Jan 13, 11:13am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Ya, my spelling has prolebms sometimes. ;)

94   LarryPatrickMaloney   2/2 = 100% civil   2013 Jan 13, 11:14am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

The bank still has a lien on the house. He could have that lien removed if he was in CA (by now), but in Ohio it takes 20 years. :(

95   LarryPatrickMaloney   2/2 = 100% civil   2013 Jan 21, 3:42am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

You mean like this?

http://stopforeclosurefraud.com/2010/09/16/california-quiet-title-victory-paul-nguyen-v-chase-et-al/

Quiet Title, Rescission and Damages, and Unfair Business Practices
JUDGMENT

1. This Court has jurisdiction over the subject matter of this case and over the Defendants.

2. Venue as to the Defendants in the Central District of California is proper.

3. Default judgment is hereby entered against Chase Bank USA, N.A. and Chase Home Finance, LLC and in favor of Plaintiffs Paul Nguyen and Laura Nguyen on all claims in Plaintiffs’ SecondAmended Complaint.

4. IT IS THEREFORE ORDERED that the Deed of Trust recorded with Orange County Recorder as instrument No. 2007000731120 on 12/12/2007 is wholly voided as to plaintiff Laura Nguyen.

5. IT IS FURTHER ORDERED that Defendant First American Loanstar Trustee Services record a DEED OF RECONVEYANCE to reconvey unto Plaintiffs thereto all right, title and interest which was heretofore acquired by First American Loanstar Trustee Services under deed of trust recorded with Orange County Recorder as instrument No. 2007000731120 on 12/12/2007.

6. IT IS FURTHER ORDERED that all adverse claims against property known as 16141 Quartz Street, Westminster, CA 92683 are quieted.
The legal description of said property is..

=========================
PS: I'm not peddling anything. Just trying to inform people.

96   LarryPatrickMaloney   2/2 = 100% civil   2013 Jan 24, 8:31am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

And, here is another great story...

"The 23-year-old has moved into an empty $2.5 million mansion in a posh Boca Raton neighborhood, using an obscure Florida real estate law to stake his claim on the foreclosed waterside property."

http://www.orlandosentinel.com/fl-boca-squatting-in-style-20130122,0,1530279.story

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