25-year foreclosure

[cael]

realestate.msn.com/article.aspx?cp-documentid=27145486>1=35010

Holy crap?? I don't sympathize with the banks or anything, but this woman clearly just never wanted to pay her mortgage and is taking advantage of the system. I think it's idiotic to waste everyone's time like that... on the other hand, if the bank(s) had their sh** in order, shouldn't they have been able to quash this years ago? Ridiculous.

What do you want to bet this will inspire other yahoos who bought way more house than they could afford to try this when the banks foreclose, deservedly, on them?

[❤ mollymouser ❤]

I wonder if more has been spent on attorneys fees and court costs than they are seeking to collect? At some point, why not settle with her for a life estate in the house that reverts back to the creditor when she dies? (She is, after all 71 years old.) There. Case Closed. Money Saved.

(Yes, yes, I know .... she shouldn't get "rewarded" for poor behavior, but she's already lived there 25 years rent free, and at this point, there's a lot of money being wasted in this. Even if she is ordered foreclosed upon by the trial court, you know she'll appeal....)

[Deleted]

This was a thread on YM shortly before it closed down. It was never her house to begin with, she inherited it from her late husband who died within a year of marrying her. I don't think she ever made a payment. Amazing story because the current cost of the mortgage with all the penalties and costs is something like 3X the original loan amount. Darn thing would have been paid off by now if she had just made the payments. She'll get booted out and have nothing. Lord knows what she paid attorneys along the way.

[cael]

Wonder if she even paid the attorneys. Article said she's representing herself now, I wonder if she got some lawyers to represent her pro bono for some of this mess. And Molly, yeah I agree - I'd think the bank would just want to forget about it instead of constantly having to dig through the new paperwork she dumped.

Not surprised this was already a thread. I wondered.

[hurley1980]

I was reading the comments posted under the article this morning, and I must admit.....I was very surprised at how many people are taking up for this woman, as if she is doing nothing wrong by living in a house free for 25 years, bringing down the value of the homes around hers, and dragging a wasteful lawsuit through our court systems. Yes I get that through loopholes, she can legally get away with it, but still...she owes the damn money! I know everyone hates the banks for being shady and screwing homeowners (which is always a different debate), but two wrongs certainly DO NOT make a right! She is a thief in my eyes.