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Nightmare house buying experience


From the Austin American Statesman:

In early May, the Dicksons bought a house that had been headed for foreclosure. All the paperwork was completed.

But the foreclosure process apparently wasn't halted, and the couple came home from work May 14 to find all their possessions gone.

Field Asset, which provides property management services nationwide, had been hired to drill out the locks and empty the house, according to police reports. Field told police that the family's belongings were given to area thrift stores, but the Dicksons have had no luck finding them.

I'm glad I work from home. If someone had shown up at my house and started drilling the locks, shotgun fire would have been the result. It's interesting how the law works. If you are home when this happens, wake up after they come through the door, you are legally allowed to kill them. After they leave, all bets are off. It's all about the threat.

Let's take a look at Section 9.609 of the Texas Uniform Commercial Code:

§ 9.609. SECURED PARTY'S RIGHT TO TAKE POSSESSION AFTER DEFAULT. (a) After default, a secured party:

(1) may take possession of the collateral; and

(2) without removal, may render equipment unusable and
dispose of collateral on the debtor's premises under Section 9.610.

(b) A secured party may proceed under Subsection (a):

(1) pursuant to judicial process; or

(2) without judicial process, if it proceeds without
breach of the peace

This means if you show up to take my property, I produce a firearm and tell you to leave, legally you have to leave. Period. If you don't, the bank is liable under tort law for any damages that result, including the death of the attempted reposessor. I have read WAY too many stories about criminals pretending to be repo men, cops, federal agents, immigration officers, etc. to believe any person who shows up at my door waving a piece of paper. Anyone can search google for a list of foreclosures in Austin. How many do you have to stop by before someone just lets you take everything you own without even a challenge?

To make things even more ironic, the couple is Nigerian. Nigeria has a bad rap in the US for the rash of constant internet scams that originate from Nigeria. Here is what appears to be a fairly well-off couple, with two kids, trying to move into a nice neighborhood, who have been completely screwed over by a bank.

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