Buying A House For 16 Dollars [video] - GoFuckYourself.com

seXXXhub · 08-07-2011, 10:16 AM

This guy figured out how to use an old Texas loop hole to buy a foreclosed house worth over 300k dollars for 16 bucks.

video : http://www.break.com/index/buying-a-...ollars-2111318

BJ · 08-07-2011, 10:22 AM

god bless negroes. Researched while probably was in jail.

gleem · 08-07-2011, 10:23 AM

heh, guess how quickly the bank lobying groups will have em close that loophole!

seeandsee · 08-07-2011, 11:54 AM

he won, other lose!

pornmasta · 08-07-2011, 12:01 PM

Quote:

Originally Posted by BJ

god bless negroes. Researched while probably was in jail.

rotfl

DaddyHalbucks · 08-07-2011, 12:18 PM

Let's see if he keeps it.

$330,000 is a big bet against him.

DiF0r · 08-07-2011, 12:22 PM

nice for him

CaptainWolfy · 08-07-2011, 12:29 PM

lol if he found the loop it should be his

DBS.US · 08-07-2011, 01:15 PM

If I found a loop hole like this I sure wouldn't tell everyone about it.

$5 submissions · 08-07-2011, 02:43 PM

Quote:

Originally Posted by DaddyHalbucks

Let's see if he keeps it.

$330,000 is a big bet against him.

He has to pay taxes for the duration of the adverse possession period. The story didn't indicate if he has that part covered.

$5 submissions · 08-07-2011, 02:46 PM

Quote:

Originally Posted by DBS.US

If I found a loop hole like this I sure wouldn't tell everyone about it.

It's not a "loophole". Adverse Possession has been around for A LONG LONG TIME. In English law it dates all the way back to the time of King Henry VIII. You know, the dude who had many wives and broke with the pope.

GatorB · 08-07-2011, 02:51 PM

The neighbors are A) jealous B) mad because a black guy has moved in the neighborhood.

Jon Oso · 08-07-2011, 04:09 PM

He doesn't technically own the house, he has rights to the property which the former owner and the bank can challenge. If they fail to do so and he occupies the house for 3 years then he can apply for the title through the court and it will be his.

But he doesn't have running water or electricity. That's going to be a very uncomfortable three years.

iamtam · 08-07-2011, 04:55 PM

i am betting that while the mortgage company went out of business, someone actually bought the debt. i would say that sooner or later, they will come back and contest it, and yes, they will spend the money to get him out.

gleem · 08-07-2011, 06:36 PM

Quote:

Originally Posted by iamtam

i am betting that while the mortgage company went out of business, someone actually bought the debt. i would say that sooner or later, they will come back and contest it, and yes, they will spend the money to get him out.

right you bet your ass that the neighbors are trying to find who bought the debt so they can tell em to come and get the place.

Brent 3dSexCash · 08-07-2011, 06:38 PM

The neighbors probably wouldn't have a problem if he was "similar" to them in skin color, no?

DBS.US · 08-07-2011, 06:43 PM

Quote:

Originally Posted by Jon Oso

But he doesn't have running water or electricity. That's going to be a very uncomfortable three years.

Why? Can't he just call the power company up and get service? The power company doesn't care who owns the property?

GatorB · 08-07-2011, 06:51 PM

Quote:

Originally Posted by Jon Oso

He doesn't technically own the house, he has rights to the property which the former owner and the bank can challenge. If they fail to do so and he occupies the house for 3 years then he can apply for the title through the court and it will be his.

But he doesn't have running water or electricity. That's going to be a very uncomfortable three years.

Well let's see if he gets the house in 3 years and maybe the housing market recovers somewhat. Even if he only sells the house for $200k that's not bad for 3 years.

Quote:

Originally Posted by DBS.US

Why? Can't he just call the power company up and get service? The power company doesn't care who owns the property?

In most areas they do care

gleem · 08-07-2011, 08:39 PM

Quote:

Originally Posted by DBS.US

Why? Can't he just call the power company up and get service? The power company doesn't care who owns the property?

Chances are the utilities will have utility liens against the house as well since the guy that walked away and didn't pay his mortgage prolly didn't bother paying water or electric company.

PiracyPitbull · 08-07-2011, 09:06 PM

Its hard to fault a guy for researching property law (and it sounds like this is not something he did the night before and turned up the next day) and putting the findings into practice.

08-07-2011, 10:16 AM	#1
seXXXhub Confirmed User Industry Role: Join Date: May 2011 Posts: 628	Buying A House For 16 Dollars [video] This guy figured out how to use an old Texas loop hole to buy a foreclosed house worth over 300k dollars for 16 bucks. video : http://www.break.com/index/buying-a-...ollars-2111318

08-07-2011, 10:22 AM	#2
BJ Confirmed User Join Date: Mar 2002 Location: asia Posts: 5,590	god bless negroes. Researched while probably was in jail. Last edited by BJ; 08-07-2011 at 10:23 AM..

08-07-2011, 10:23 AM	#3
gleem Confirmed User Industry Role: Join Date: Jun 2001 Location: Sunny Land Posts: 5,593	heh, guess how quickly the bank lobying groups will have em close that loophole! __________________ Contact me: \\// E: webmaster /at/ unprofessional.com

08-07-2011, 11:54 AM	#4
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	he won, other lose! __________________ BUY MY SIG - 50$/Year Contact here

08-07-2011, 12:18 PM	#6
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Let's see if he keeps it. $330,000 is a big bet against him. __________________ Boner Money

08-07-2011, 12:22 PM	#7
DiF0r Confirmed User Join Date: Apr 2007 Location: Europe Posts: 1,516	nice for him __________________ Hardcore Porn - submit your freesites MovieRoom - over 30 categories and SMART banners AmateurMatch - WebCamClub - DateMatch - AsianAmateurMatch GayAmateurMatch - LesbianAmateurMatch - EbonyAmateurMatch - BeeMatch - Romancer

08-07-2011, 12:29 PM	#8
CaptainWolfy Playa Industry Role: Join Date: Dec 2005 Location: Somewhere on the Earth Posts: 8,439	lol if he found the loop it should be his

08-07-2011, 01:15 PM	#9
DBS.US Geo Cities Industry Role: Join Date: Aug 2003 Location: North Captiva Island, Florida USA Posts: 11,831	If I found a loop hole like this I sure wouldn't tell everyone about it. __________________ Make a Free Chaturbate White Label site in 34 minutes and be making money tonight

08-07-2011, 02:51 PM	#12
GatorB The Demon & 12clicks Industry Role: Join Date: Oct 2001 Location: SallyRand is a FAGGOT Posts: 18,208	The neighbors are A) jealous B) mad because a black guy has moved in the neighborhood.

08-07-2011, 04:09 PM	#13
Jon Oso Confirmed User Industry Role: Join Date: Feb 2005 Location: Cardboard Box Posts: 2,241	He doesn't technically own the house, he has rights to the property which the former owner and the bank can challenge. If they fail to do so and he occupies the house for 3 years then he can apply for the title through the court and it will be his. But he doesn't have running water or electricity. That's going to be a very uncomfortable three years. __________________ icq 416133583 My Blog Clips4Sale Store

08-07-2011, 04:55 PM	#14
iamtam So Fucking Banned Join Date: Feb 2010 Posts: 1,211	i am betting that while the mortgage company went out of business, someone actually bought the debt. i would say that sooner or later, they will come back and contest it, and yes, they will spend the money to get him out.

08-07-2011, 06:38 PM	#16
Brent 3dSexCash Octopus Anime Industry Role: Join Date: Sep 2007 Location: Chicago Posts: 1,064	The neighbors probably wouldn't have a problem if he was "similar" to them in skin color, no?

08-07-2011, 09:06 PM	#20
PiracyPitbull Confirmed User Industry Role: Join Date: Jan 2011 Posts: 583	Its hard to fault a guy for researching property law (and it sounds like this is not something he did the night before and turned up the next day) and putting the findings into practice. __________________ http://www.piracypitbull.com