Monday, July 26, 2010

Utah Court Declares Rental Agreement, Eviction Invalid; Future Trial To Determine Property Title In Lawsuit Between Homeowner, Sale Leaseback Peddler

In Taylorsville, Utah, KTVX-TV Channel 4 reports:

  • A Taylorsville man faced with the prospect of losing his home turned to a foreclosure rescue company for help. But instead of help, he claims the company practically tricked him out of his home.

  • Mark Jeffs was months late on his mortgage, and his bank was looking to collect. Jeffs says one day a man with a plan came knocking on his door, promising Jeffs he'd save his home. Jeffs claims that the man's company, Foreclosure Connection, helped catch him up with his mortgage and said they'd assume his mortgage from the bank. In return, Jeffs signed over the deed to his home but asserts that he didn't understand what he was doing at the time. "I thought my home was saved," Jeffs told ABC4 but continues, "a few months later I got an eviction notice." Turns out, Jeffs had in effect become a renter in his own home. And when the Taylorsville man couldn't afford to make payments to the foreclosure rescue company on his own home he was evicted. "They said it was a lease option," Jeffs told ABC4 and we asked, "did you understand what you were signing at the time? No."

  • However, Jason Williams, owner of Foreclosure Connection says that simply isn't true. [...] The Foreclosure Connection owner says Jeffs knew exactly what he was doing, and in fact Jeffs fell behind in his payments to William's company that was why he was being evicted.

***

  • Williams could not elaborate further on his situation with Jeffs due to current litigation and an impending trial. But Williams did say that the Jeffs were frustrated because they fell behind, "when things don't go their way it's no longer a buy and sell, it's a loan because I lent them money."(1)

  • Currently, the two head to court in December to find out who really owns the Taylorsville home. A judge has ruled that Jeffs lease and eviction are invalid but Williams still holds the deed to Jeffs' home.

For the story, see Homeowner claims "lender" tricked him out of home.

(1) Apparently, Williams, like many other sale leaseback peddlers, are clueless that one of the risks of entering into these types of transactions is the possible recharacterization of the deal from a sale leaseback arrangement into a secured loan through the judicial invocation of the centuries-old equitable mortgage doctrine. See, generally:

2 comments:

Anonymous said...

HE IS A CON ARIST JUST LIKE HIS DAD!!!!

Unknown said...

I'm a current tenant of Jason William's W Foreclosure connections I can verify what this gentalmen is stating about Mr. William's and Foreclosure connections staff is all true, My family and I are currently seeking legal advice on our matter. Their company swindles all their clients putting their in harm's way, threatening their safety and well-being if you do comply with their illegal practice's and Fraud! They have Discriminatated and violated every civil rights of my family and I's, Their Frauding families on Government assistantnce like Section 8, Refusing and major concern's addressed, Refuse to do any major repairs in the house I'm renting, Wvc chief codes building inspector has found them W several different city and state building codes violation of turning Singhal family feelings into duplex's illegally, I don't have access to my hot water heater, power box, my sprinkling system, heater or to change our air filters to our heat ventalation system, we have read cockroaches and black mold, 3rd hand illegal narcotic's smoked and possible meth lab was being ran out of the current house I'm stuck renting for a year, curranr tenants renting downstairs in Apt B are alot dealing in illegal norcotic's activities, My family and I can smell bad chemical's coming up through our vent's all hr's of the day and night, all the tale tale sign's are their, Jason William's and staff Foreclosure connections refuse to do anything, or to relocate my family and I to a different property that is habitable for human to reside in, Clean safe quiet habitable sanitary living environment, make sure we can maintain our quality of life! Not suffer, keep being tormented, Avoided, Threatened by Jason William's and staff W Foreclosure connections that they will make sure I lose my housing and be evicted if I didn't comply to his rude illegal practice's and Fraud demands