[Dec 15 2019] Foreclosure Saga - http://civilinquiry.jud.ct.gov/CaseDetail/PublicCaseDetail.aspx?DocketNo=FBTCV196091825S

[QwahlityKahntent]

"that was easy"

you mean "that was FUCKIN' easy"

 

[Satoi]

Poor jacht guy, he seemed happy.

"that was easy"

you mean "that was FUCKIN' easy"

Well he did get fucked easily so he wasn't that wrong

 

[BallBuster]

It'd most likely just show up as payments to Apple Pay, and the explanation would be "I'm a game streamer dood, I buy gaming for my gaming business with Apple." That's probably enough to get a rubber stamp from apathetic boomer functionaries.

Yea I think you are right. I just looked at the last time I spent on a gacha game (about 5 years ago), and it is very generic. APL*ITUNES.com/bill************ CA

Still, he would have to argue thousands spent in Itunes with no proof that it is for his "business".

 

[AnOminous]

All of them, besides maybe yacht guy, got their bankruptcy approved.

I think yacht guy did too, but he probably had to sell the yacht, because that was something even boomers could understand.

 

[PieceofShet]

There was some update on the case, 3 new files.

 

[twattycake]

There was some update on the case, 3 new files.

These files are fairly simple and straightforward

* The "Affidavit of Debt" form is a calculation of additional principal and interest accrued as of 26 May 2021.
* The "Foreclosure Worksheet" form which takes the updated value of the condo ($90,000) and the total calculated debt including fees MidFirst has incurred ($113,471.98 ) to get a new equity (net worth of the property) of -23.471.98. Connecticut law is very fair and forbids creditors from using assessed values more than ninety days before the final judgment for liability calculations in a foreclosure.
* The "Military Affidavit" form is a records search certifying that Phil never served in the military. Based on comparisons to other foreclosures this appears to be required by either state or federal law, most likely because there are special protections for veterans in foreclosure.

What these files do not tell me is how serious Midfirst is about pursuing Phil for the deficiency. The other foreclosure cases I was able to find on the state court website all had a similar filing even if the property was not underwater so I believe it is more likely than not that these forms are required for all foreclosures in Connecticut.

 

[tomstone]

These files are fairly simple and straightforward

* The "Affidavit of Debt" form is a calculation of additional principal and interest accrued as of 26 May 2021.
* The "Foreclosure Worksheet" form which takes the updated value of the condo ($90,000) and the total calculated debt including fees MidFirst has incurred ($113,471.98 ) to get a new equity (net worth of the property) of -23.471.98. Connecticut law is very fair and forbids creditors from using assessed values more than ninety days before the final judgment for liability calculations in a foreclosure.
* The "Military Affidavit" form is a records search certifying that Phil never served in the military. Based on comparisons to other foreclosures this appears to be required by either state or federal law, most likely because there are special protections for veterans in foreclosure.

What these files do not tell me is how serious Midfirst is about pursuing Phil for the deficiency. The other foreclosure cases I was able to find on the state court website all had a similar filing even if the property was not underwater so I believe it is more likely than not that these forms are required for all foreclosures in Connecticut.

but he almost was going to be a marine. the recruiters were so impressed by him they even said that he is a top canditate to be a officer.

but then the idiot recruiter blew it by being cocky and arrogant and the marines missed out on recruiting the best of the best, the pigroach.

 

[Pretty Boy Extremism]

but he almost was going to be a marine. the recruiters were so impressed by him they even said that he is a top canditate to be a officer.

but then the idiot recruiter blew it by being cocky and arrogant and the marines missed out on recruiting the best of the best, the pigroach.


View attachment 2192126

If Phil were ever appointed to a leadership position in the military he'd make Quinctilius Varus look competent by comparison.

 

[Rainyday Hedge Fund]

If Phil were ever appointed to a leadership position in the military he'd make Quinctilius Varus look competent by comparison.

I don't think he'd get out of the bed after the first blanket party thrown in his honor.

 

[Balr0g]

Phil in the military colorized

 

[TheGoutburglar]

but he almost was going to be a marine. the recruiters were so impressed by him they even said that he is a top canditate to be a officer.

but then the idiot recruiter blew it by being cocky and arrogant and the marines missed out on recruiting the best of the best, the pigroach.

I wonder how many more of these ridiculous stories we would be hearing to this day if the detractor community hadn't ripped him to shreds over any of the old ones. It's clear that Phil never grew out of the "lying to kick it" phase, he just stopped sharing any of the lies to the camera because he knows what's going to happen.

Most we get now is him living denial of how bad his hair is, and why. "Headphones were killing my hair, but it's all thick and full again!" Yeah, sure it is Mr. Been Thinning Visibly Since 2009.

 

[Martys_not_smarty]

Bit off topic but the recruiters tell everyone that, that or they'll say you'd be ideal for some job that looks badass in a vidya game like being in a gunship when in reality all you end up with is hearing loss, chronic headaches, diminished lung performance and probably cancer.

 

[actually]

Do not get your hopes up, but I was reading the docs in the case, and I noticed in the Affidavit for Attorney's Fees under the detailed listing of work the attorney did, the attorney listed "Motion for Deficiency Judgment" as an anticipated item.

From CT code (as of 2011): " Sec. 49-14. Deficiency judgment. (a) At any time within thirty days after the time limited for redemption has expired, any party to a mortgage foreclosure may file a motion seeking a deficiency judgment. Such motion shall be placed on the short calendar for an evidentiary hearing. Such hearing shall be held not less than fifteen days following the filing of the motion, except as the court may otherwise order. At such hearing the court shall hear the evidence, establish a valuation for the mortgaged property and shall render judgment for the plaintiff for the difference, if any, between such valuation and the plaintiff's claim. The plaintiff in any further action upon the debt, note or obligation, shall recover only the amount of such judgment."

It is still entirely unclear if MidFirst can actually follow through on this because of the bankruptcy, but it seems to me that they're planning on taking that shot if they see any avenue to do so.

One other thing is MidFirst doing a Strict Foreclosure: "

Deficiency Judgments in Strict Foreclosures​

To get a deficiency judgment following a strict foreclosure, the lender must file a motion with the court within 30 days after the Law Day. The deficiency amount will be the difference between the total outstanding debt and the home's fair market value. (Conn. Gen. Stat. § 49-14)."

The other option is a "Decree of Sale Foreclosure", which results in this:
"In a decree of sale foreclosure, the lender can ask the court for a deficiency judgment as part of the foreclosure suit. But if the property sells for less than its appraised value, the lender has to credit you with half of the difference between the sale price and the appraised amount. (Conn Gen. Stat. § 49-2."

I'm not going to hold my breath, but this has at least the potential to be a lot of fun.

 

[Colloid]

At the rate Phil's whales have been going lately even a $20-30k deficiency could be paid off in a reasonable amount of time. That said I can already imagine Phil whining about it like it isn't his fault despite this whole mess being a direct consequence of him going "Fuck you, not paying," two years ago instead of just selling the damn thing. I guess we'll see if whether or not Midfirst goes for the easy money, or if the pigroach proximity effect takes hold and dissuades them.

 

[Balr0g]

If Midfirst is paying attention to Phils recent streams and they use the forbidden art of math they might figure "Why not take the cherry on top?" and sue for the deficency. At this point it is already a win-win for them: the property value has risen considerably and they had Phil pay the HoA each month. I wonder if they might go for the triple whamy but I won't hold my breath. How much money did Midfirst invest in the mortgage anyway? It was sold for a cheap price right?

 

[twattycake]

How much money did Midfirst invest in the mortgage anyway? It was sold for a cheap price right?

All we know from court records is that it was transferred in late 2019 from a NYC based company (William Raveis Mortgage LLC) to MidFirst. Property deeds and transfers are also not on the website for either the state courts or Fairfield County government so one would have to look it up in person. Apart from being weenery this approach is also not guaranteed to work, it is entirely possible that transferring a mortgage is not covered by the state freedom of information laws.

I think you're probably right because a mortgage on an underwater property in default is not getting sold unless it is discounted or bundled with viable mortgages but we don't know for sure.

It is still entirely unclear if MidFirst can actually follow through on this because of the bankruptcy, but it seems to me that they're planning on taking that shot if they see any avenue to do so.

There is another reason they might be doing this: If they get a deficiency judgment and then forgive the debt, that counts as a business loss and can be deducted in future tax returns. It's an odd strategy since the deduction may not even cover the attorney's fees from pursuing this case but it's definitely a possibility.

And yeah, depending on the site I read it was either supportive of Phil's (well, Rochelle's) position that the bankruptcy nullified the debt or only supportive of our position that it is enforceable if you really tilt your head and squint.

 

[Salubrious]

I mean, DSP has already had "pigroach luck" just by the condo going back up to $90K after being all the way down to $60K.

IANAL, but if the condo kept rising, and the value got to like $120K, could DSP just give the condo back to the bank and walk away "scot free"?

 

[actually]

I mean, DSP has already had "pigroach luck" just by the condo going back up to $90K after being all the way down to $60K.

IANAL, but if the condo kept rising, and the value got to like $120K, could DSP just give the condo back to the bank and walk away "scot free"?

Yes. If the appraised value rose to an equal or greater value than what Phil owed, MidFirst would get it from the foreclosure proceedings, and that would be it.

 

[TheGoutburglar]

Yes. If the appraised value rose to an equal or greater value than what Phil owed, MidFirst would get it from the foreclosure proceedings, and that would be it.

Still hard to call that a win for him when he lost so much money from owning and doing nothing with it.

It's true what they say around here: Phil is his own greatest detractor. And this is quite possibly the most egregious example, too, because not only did he pay HOA fees for years, but he missed out on renting it out, and/or eventually short-selling, by being a stupid asshole. That's more money than he could possibly have wasted on gacha by now.

It's incredible that that not-so-secret black hole is turning out to NOT be the most embarrassing way that Phil has wasted a metric fuck ton of money. I mean it's pretty bad to spend that much for wrestling jpegs, but imagine if we never found that account. He would STILL be a giant fucking idiot, over his Connecticut condo alone.

Fuck the deficiency, he has already wrecked himself here more than MidFirst could.

 

[DiabeticSP]

All we know from court records is that it was transferred in late 2019 from a NYC based company (William Raveis Mortgage LLC) to MidFirst. Property deeds and transfers are also not on the website for either the state courts or Fairfield County government so one would have to look it up in person. Apart from being weenery this approach is also not guaranteed to work, it is entirely possible that transferring a mortgage is not covered by the state freedom of information laws.

I think you're probably right because a mortgage on an underwater property in default is not getting sold unless it is discounted or bundled with viable mortgages but we don't know for sure.



There is another reason they might be doing this: If they get a deficiency judgment and then forgive the debt, that counts as a business loss and can be deducted in future tax returns. It's an odd strategy since the deduction may not even cover the attorney's fees from pursuing this case but it's definitely a possibility.

And yeah, depending on the site I read it was either supportive of Phil's (well, Rochelle's) position that the bankruptcy nullified the debt or only supportive of our position that it is enforceable if you really tilt your head and squint.

This is probably boilerplate so they have the option just in case and is likely tucked into every foreclosure.

They can't get Phil for a 'lot' (relatively) compared to someone who, say, bought a 1.7 million dollar mansion.

But, Midfirst (at least this part of Midfirst) buys debt bundles from banks/etc that don't want to deal with collections and such. I would assume Phil got bundled in to offload 'bad' debt. He's definitely not the juicy stuff Midfirst cares about buying.

That being said, its only one additional motion to file, so a lawyer for Midfirst just needs to sign and submit. Call it $100 to maybe get $30k. Not a bad deal when Phil hasn't disputed anything so far. Rack up enough bonus $30ks and that's a nice yearly bonus on the way for whatever department head runs this shitshow.

Depending on volume available of course. If they can snag a bunch of bigger fish why even bother just take the free condo and flip it.