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Credit union repos home days early, trashes family’s belongings

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Coming home to an empty house

According to KATU.com, an Oregon woman and her three daughters came home from a camping trip to discover her home was being cleared out.

Myra Epping’s home has been foreclosed and she has moved into an apartment but did not have space for all of her belongings yet, so they left behind memorabilia and valuables. Epping had until Friday, August 12th to move out of the foreclosed home, but Clackamas Federal Credit Union hired movers to prematurely clear out the contents of the home.

Where did everything go?

Valuables were taken to a storage facility while remaining items (papers, photos, etc.) were sent to the local dump, Epping’s teen daughter said.

“My house is empty, and there’s nothing I could do about it because I was five hours away,” Epping explained to the credit union while KATU filmed her ordeal.

One of the movers came to the home on Monday to tell Epping to find the items that had not been thrown away.

Neighbors tried to stop the ordeal

Neighbors who were aware that Epping had moved out and was spending the week clearing her remaining possessions out saw the movers and attempted to stop them, even showing them a letter from the credit union they recovered from Epping’s mailbox that clearly stated that she had until the 12th to fully move out. The movers stopped upon seeing the letter, but for the most part, it was too late.

Bank denies removing any items

KATU reports that the credit union’s attorney is denying any items were taken from the home and that the company is looking into the matter. Epping has had to hire an attorney to attempt to recover her possessions.

Not the first homeowner victimized

This isn’t the first time we’ve heard of a bank wrongly removing items from a home, as the Dickinsons of Cedar Park, Texas came home after only seven days of living in their new home to find their locks drilled and everything removed, as the bank never stopped the foreclosure process on the previous homeowners.

Bad paperwork can easily lead to homeowners being victimized- this isn’t a problem related to the mortgage crisis and falling home values, no, this problem is simply bad paperwork. It remains unseen as to what the cause of Epping’s dilemma is, be it paperwork or not.

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18 Comments

18 Comments

  1. Tina Merritt

    August 10, 2011 at 7:45 am

    OK, I am not defending the credit union's actions AT ALL; however:

    Your house has been foreclosed on.
    You move out.
    You don't have room for all your stuff so you leave stuff behind.
    You go on a vacation.

    Maybe it's just me, but I think that if the belongings were valuable, I would figure out a place to store them before taking off on a vacation.

  2. Chris Lengquist

    August 10, 2011 at 8:54 pm

    I work with foreclosure homes and HUD homes all day long. The incompetence factor never ceases to amaze me.

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Austin

Austin tops the list of best places to buy a home

When looking to buy a home, taking the long view is important before making such a huge investment – where are the best places to make that commitment?

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Looking at the bigger picture

(REALUOSO.COM) – Let us first express that although we are completely biased about Texas (we’re headquartered here, I personally grew up here), the data is not – Texas is the best. That’s a scientific fact. There’s a running joke in Austin that if there is a list of “best places to [anything],” we’re on it, and the joke causes eye rolls instead of humility (we’re sore winners and sore losers in this town).

That said, SelfStorage.com dug into the data and determined that the top 12 places to buy a home are currently Texas and North Carolina (and Portland, I guess you’re okay too or whatever).

They examined the nerdiest of numbers from the compound annual growth rate in inflation-adjusted GDP to cost premium, affordability, taxes, job growth, and housing availability.

“Buying a house is a big decision and a big commitment,” the company notes. “Although U.S. home prices have risen in the long term, the last decade has shown that path is sometimes full of twists, turns, dizzying heights and steep, abrupt falls. Today, home prices are stabilizing and increasing in most areas of the U.S.”

Click here to continue reading the list of the 12 best places to buy a home…

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Housing News

Average age of houses on the rise, so is it now better or worse to buy new?

With aging housing in America, are first-time buyers better off buying new or existing homes? The average age of a home is rising, as is the price of new housing, so a shift could be upon us.

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aging housing inventory

The average home age is higher than ever

(REALUOSO.COM) – In a survey from the Department of Housing and Urban Development American Housing Survey (AHS), the median age of homes in the United States was 35 years old. In Texas, homes are a bit younger with the median age between 19 – 29 years. The northeast has the oldest homes, with the median age between 50 – 61 years. In 1985, the median age of a home was only 23 years.

With more houses around 40 years old, the National Association of Realtors asserts that homeowners will have to undertake remodeling and renovation projects before selling unless the home is sold as-is, in which case the buyer will be responsible to update their new residence. Even homeowners who aren’t selling will need to consider remodeling for structural and aesthetic reasons.

Prices of new homes on the rise

Newer homes cost more than they used to. The price differential between new homes and older homes has increased from 10 percent traditionally to around 37 percent in 2014. This is due to rising construction costs, scarcity of lots, and a low inventory of new homes that doesn’t meet the demand.

Click here to continue reading this story…

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Housing News

Are Realtors the real loser in the fight between Zillow Group and Move, Inc.?

The last year has been one of dramatic and rapid change in the real estate tech sector, but Realtors are vulnerable, and we’re worried.

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Why Realtors are vulnerable to these rapid changes

(REALUOSO.COM) – Corporate warfare demands headlines in every industry, but in the real estate tech sector, a storm has been brewing for years, which in the last year has come to a head. Zillow Group and Move, Inc. (which is owned by News Corp. and operates ListHub, Realtor.com, TopProducer, and other brands) have been competing for a decade now, and the race has appeared to be an aggressive yet polite boxing match. Last year, the gloves came off, and now, they’ve drawn swords and appear to want blood.

Note: We’ll let you decide which company plays which role in the image above.

So how then, does any of this make Realtors the victims of this sword fight? Let’s get everyone up to speed, and then we’ll discuss.

1. Zillow poaches top talent, Move/NAR sues

It all started last year when the gloves came off – Move’s Chief Strategy Officer (who was also Realtor.com’s President), Errol Samuelson jumped ship and joined Zillow on the same day he phoned in his resignation without notice. He left under questionable circumstances, which has led to a lengthy legal battle (wherein Move and NAR have sued Zillow and Samuelson over allegations of breach of contract, breach of fiduciary duty, and misappropriation of trade secrets), with the most recent motion being for contempt, which a judge granted to Move/NAR after the mysterious “Samuelson Memo” surfaced.

Salt was added to the wound when Move awarded Samuelson’s job to Move veteran, Curt Beardsley, who days after Samuelson left, also defected to Zillow. This too led to a lawsuit, with allegations including breach of contract, violation of corporations code, illegal dumping of stocks, and Move has sought restitution. These charges are extremely serious, but demanded slightly less attention than the ongoing lawsuit against Samuelson.

2. Two major media brands emerge

Last fall, the News Corp. acquisition of Move, Inc. was given the green light by the feds, and this month, Zillow finalized their acquisition of Trulia.

…Click here to continue reading this story…

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