Posts tagged: foreclosure
Arson investigators are combing through the debris of a million-dollar riverfront estate that was engulfed by fire Thursday morning as lenders prepared to hold a foreclosure on the home. Flames were visible to daybreak commuters along Interstate 90. Parts of the 10,000-square-foot brick and wood mansion – assessed at about $1.5 million – continued to smolder at nightfall. No one was home and no one was injured in the fire, said Ron Sampert, Kootenai County fire chief. The fire capped months of financial and legal tumult for the homeowners, said Leonard Wallace, who bought the home in 2002 with his wife, Pamela Wallace. Lender Deutsche Bank filed a foreclosure action against the Wallaces last year, and the family has turned to Bankruptcy Court to try to shield their assets at least twice/John Stucke, SR. More here. (SR photo: Jesse Tinsley)
You can read my full story here at spokesman.com on the U.S. Justice Department's lawsuit against Idaho Rep. Phil Hart, which seeks to foreclose on his log home in Athol for more than half a million in back federal income taxes, penalties and interest. Through Oct. 31, 2011, the complaint says, Hart owes the IRS $549,703.48, for back taxes from 1996 to 2008. Hart wasn't immediately available for comment. He's also fighting the Idaho State Tax Commission over more than $53,000 unpaid state income taxes, penalties and interest; though he's lost repeatedly, his appeal to the Idaho Supreme Court likely will come up for a hearing in April. The federal complaint also asks the court to set aside the “fraudulent transfer” of the home to various parties including the trust, determine that the trust is a “sham entity”/Betsy Russell, Eye On Boise. Complaint here, courtesy of Brad Iverson-Long/Idaho Business Review. (SR file photo, of Phil Hart's Rathdrum home)
Question: Does this make state Rep. Phil Hart a greater hero in Tea Party circles? Or are fair-minded Tea Partiers beginning to see through this guy?
They say there are snake pits on Wall Street. Chase has learned there are snake pits on Main Street too. Last year, the J.P. Morgan Chase banking unit foreclosed on a home near Rexburg, Idaho, that is infested with garter snakes. They slide through the yard, the crawl space, the walls, the ceilings, even across the floors. Sure, they're harmless, but there are perhaps thousands of them. They give off malodorous secretions when alarmed, and can even leave the well water tasting a bit like the way they smell/Al Lewis, Yahoo! MarketWatch. More here. (Wikipedia photo of common garter snake)
Question: If the price was right, could you live in a house full of garter snakes?
The American dream has turned into a nightmare for Donna Lee of West Boise. She pays her mortgage each month but is facing foreclosure anyway. When she bought her home from a developer, there was a clerical error on the deed of trust that shows she should be living in a different unit. The developer has filed for bankruptcy and the bank wants the property. “I'm just mentally and physically exhausted over all this, financially too. I'm in limbo right now and I just don't know”, Lee said/Brian Morrin, KBOI. More here. H/T: Sammy