So man lost his fully paid home in an auction due to unpaid water bill he didnt know about - page 2

I guarantee the people behind this scheme are probably all . They are nothing but parasites.

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I just love when the same sociopathic folks who laugh and joke about sh1t like this get knocked on their asses themselves.

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this is the dumbest sh1t ive ever heard, i can tell you dont own a home.

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what's "dumb" about it? it's the statistic

why would a homeowner not pay their water bill? 6800 of them at that? bruh the water bill is one of the cheapest bills u get lol nobody getting that sh1t cut off. its an obvious scam. but im not gonna go back n forth with somebody who dont have a mortgage, u prob dont pay rent.

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I can almost guarantee the investors were jewish men.

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the "why would somebody do something so stupid" in itself is stupid. all of human history is replete with examples of people doing ret@rded sh1t including not paying utility bills.

There may be outliers like possibly the one mentioned in the op but if you have proof of a scam it should be a slam dunk win for you to expose. no i have no mortgage or rent to pay.

house been paid off since 2014.

The lineage of fu#king evil never sleeps.

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They tried to steal my mom's house with a similar trick. Basically we have a violation, but we don't actively live at the house, I guess the letter went to people renting it and never got back to us. Come to find out, she owes 2 grand to the city or they gonna take her house.

Luckily I had money laying around.

This is right around the time she was getting calls by investors who were trying to lowball her in a sell. SMH.

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It's called tax lien foreclosure. Been doing it since 2010. BX might wanna smarten up and get on the right side of these type of investments..

Homeowners get plenty notice, and opportunities to pay delinquent bill. Process of full foreclosure takes years and is the absolute last resort. The investor is not there to take the property. The investor would rather the existing home owner just pays the notice (plus a small % !).

In the example the bill is already like 2 years late. The investor steps in and pays the 5k to pay water bill. The owner is told to pay investor back 6.5 or lose their entire home. The longer it takes the 6.5 owed can grow to 7. Most investors will be happy with the 1.5 they will make pretty quickly and repeat again a few times a year. Owner will almost always find a way to pay because they don't want to lose their home.

If after like another 2 years its still not paid...THEN Finally investor has the right to now pay an additional amount closer to the homes value to the state (example is 800k, let's say 600k). So now the investor has paid 605k and the state will transfer property. After four years and 605k paid you get a home. you can either sell immediately as is for shorts or spend money on this lived in never before seen in person as is property.

More of a headache and more costly to take ownership of a random home that some random person for random some reason stopped caring and stopped paying their bills.