Mansion squatters return in a big way
Tuesday, August 24th, 2010 | Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales, Short Sales, Wholesale properties
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Okay… gang. Don’t expect SREC to produce a course on this topic “How to Get a Million Dollar Home by Squatting.”
People are attempting to lay claim to foreclosed property by simply moving in. Now I’ve heard of people moving into properties in pre-foreclosure as a way to save a dime until the house goes to auction, but this takes it to a whole new level!
But should we be surprised? Just last year Wells Fargo made national news for an executive who moved into a 15 million dollar home in Malibu and threw lavish parties –– AFTER the original homeowners were forced out because they defaulted on their loan!
I guess if the big boys can do it, regular people can try…
~josh
Read more at The Seattle Times
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