Re:Left with Nothing
by cantrevealname on Sunday September 08, 2013 @07:23PM
(#6350931)
> No, that's not what happened at all.
What part are you saying I still don't understand? The point I was trying to make is that Mr. Coleman does get some money from the sale, although unjustly much less than the house is worth. But the reporter is obscuring this simple fact.
> Not only did he lose his $197,000 house, but he also was stripped of the equity because tax lien purchasers are entitled to everything, trumping even mortgage companies.
That's not "obscuring this simple fact", that's stating clearly and unambiguously that your "fact" isn't true. The person you initially responded to was creating an example, based on how liens usually work. The reason the profit margins are so high in this case is that it doesn't work that way.
>The Maryland company that took Coleman’s house sold it for $71,000 two months after evicting him. The company was owned by Steven Berman, who was convicted in 2008 in the Maryland bid-rigging case. He declined to comment. The law firm for Berman’s company said it was willing to reduce Coleman’s bill to $3,500 but could not reach him.