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

[LyteSydeByll]

I don't see why you wouldn't go after the full amount of deficiency judgement, especially if the one charged is ignoring summons and requests for replies.

I also find it ironic DSP is going to listen to this lawyer, when lawyers have fucked him over in the past with their bad advice, like his CT Tax Guy.

It looks like in a strict foreclosure there isn't a forced sale on the home, so DSP wouldn't have to pay 50% of the difference between the market value and what it sold for.
IF Midfirst goes after a deficiency judgement then the most DSP would be looking at is the outstanding mortgage minus the market value. Which would be right around $42,000.
I also love how this announcement came the day after he talked about and bragged about his bankruptcy for an hour on the Thanksgiving stream and how he did nothing wrong he did everything correct.

 

[Malcolm Tucker]

Maybe, but not because it will piss them off. If they think they can sneak in a win because of his inattention they'll do it. Now what might actually piss them off is Phil publicly flipping them off and telling them to go fuck themselves.

That was my thinking, if you keep winning all these judgements by default, it's probably worth the risk to try take that extra step. Not as if Phil is going to be hiring a lawyer to fight it.

 

[Nigel of Ukip]

Maybe, but not because it will piss them off. If they think they can sneak in a win because of his inattention they'll do it. Now what might actually piss them off is Phil publicly flipping them off and telling them to go fuck themselves.

Thank god we're good boys and girls, and would never let them know about all the shit he said, or even lied about their foreclosure on his bankruptcy.

Edit:
Question.
If Midfirst can't get what they want due to his bankruptcy, can they argue that the foreclosure was before the bankruptcy, and Phil lied about it?

 

[AnOminous]

IF Midfirst goes after a deficiency judgement then the most DSP would be looking at is the outstanding mortgage minus the market value. Which would be right around $42,000.

And the court determines the fair market value. So they may figure that even with the glacial pace of Connecticut courts in current year, it's better than trying to sell in this market.

Thank god we're good boys and girls, and would never let them know about all the shit he said, or even lied about their foreclosure on his bankruptcy.

Edit:
Question.
If Midfirst can't get what they want due to his bankruptcy, can they argue that the foreclosure was before the bankruptcy, and Phil lied about it?

They filed the foreclosure action in late 2019 while Phil filed bankruptcy on 1/31/2020. I don't think it matters because Phil declared the debt in the bankruptcy. The actual foreclosure hasn't technically even happened yet.

 

[Alt+F4]

And the court determines the fair market value. So they may figure that even with the glacial pace of Connecticut courts in current year, it's better than trying to sell in this market.

They filed the foreclosure action in late 2019 while Phil filed bankruptcy on 1/31/2020. I don't think it matters because Phil declared the debt in the bankruptcy. The actual foreclosure hasn't technically even happened yet.

But that is only because of Covid slowing things down. I think they will try to get something from the Pig. I hope.

 

[Freshtodeath]

Whatever lawyers they have will destroy whoever phil trots out.

 

[DZoomer]

If the bankruptcy saga taught me anything, it's to never expect Phil to suffer real consequences for his sleaziness.

The guy scammed a fucking bankruptcy court and the trustee was too dumb/incompetent/retarded to see through his lies. I don't believe in pigroach luck or whatever, I just understand that Phil is the kind of scummy piece of shit who is willing to risk perjuring himself if he thinks he can get away with it.

So yeah, I'm not holding my breath for this foreclosure saga to be anything other than a giant and tasteless nothingburguer. Hopefully I'm wrong, but I probably am not.

 

[Iron Hamster]

Thanks to mrhuth!

OG tweet

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O hey, whats that?

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I so want his 'fuck you I'm not paying' video to bite him in the ass.

 

[Kosher Dill]

If Midfirst can't get what they want due to his bankruptcy, can they argue that the foreclosure was before the bankruptcy, and Phil lied about it?

The laws on this all seem to be such an ambiguous mess, it's anyone's guess.

And remember that this is just one of hundreds or even thousands of deadbeat cases that Midfirst is handling at any given time. There's no telling what makes a case "worth it" to pursue in their eyes, as opposed to just eating the loss or sitting on the property till the market improves. There's almost certainly no one there who personally cares what happens to The Khando.

 

[Fernando Vidal]

If the bankruptcy saga taught me anything, it's to never expect Phil to suffer real consequences for his sleaziness.

The guy scammed a fucking bankruptcy court and the trustee was too dumb/incompetent/retarded to see through his lies. I don't believe in pigroach luck or whatever, I just understand that Phil is the kind of scummy piece of shit who is willing to risk perjuring himself if he thinks he can get away with it.

So yeah, I'm not holding my breath for this foreclosure saga to be anything other than a giant and tasteless nothingburguer. Hopefully I'm wrong, but I probably am not.

It's the reason psychopaths tend to be so successful in work/business. They have absolutely no fear of failure and repercussions.

 

[AnOminous]

It's the reason psychopaths tend to be so successful in work/business. They have absolutely no fear of failure and repercussions.

That's not really true. Most sociopaths/psychopaths are pretty low functioning and spend much of their time in and out of jail for mostly dumb offenses, because of their lack of ability to recognize the connection between their actions and negative consequences for them. It would be more accurate to say that many highly successful businesspeople share traits with sociopaths, such as a disregard for the needs of others. While there are actual successful sociopaths, who are destructive to the organizations they're a part of, the ones who actually lead organizations to success have these traits as well.

 

[QwahlityKahntent]

I don't believe in pigroach luck or whatever,

You best start believin in pigroach luck stories,
you're in one.

 

[harbinger]

I wonder if Mid-First and their lawyer team have been doing their due diligence and may surprise Philip with a motion to revoke his bankruptcy. From what I’ve read, they have until a year from his discharge to do such a thing. It’d be a real shame if they started asking questions about that $5000/month business expense. I’m also curious what the IRS may think about it after he turned in his 2019 tax return reflecting that. They get seven years to ponder on it. Surely he hasn’t been lying on his tax returns all these years. It seems to me such a drastic increase in business expenses would raise a red flag for them as well.

 

[Kosher Dill]

I wonder if Mid-First and their lawyer team have been doing their due diligence

The "lawyer team" is going to have bigger fish to fry. They're probably spending their time going after people trying to skip out on McMansions that are $500K underwater, and stuff like that. $40K is just not that much money in the grand scheme of things. Most likely, some intern is just following a flowchart, pulling up Midfirst's standard boilerplate, copy-pasting Phil's info into the blanks, and passing the documents off to Midfirst's lowliest lawyer to be filed.

 

[Balr0g]

As they say in my country "On high seas and in front of the court you are in god's hand" And Phil really seems to be in the hand of the God of luck. Or sloth. After all his laziness seems to work our for him. Maybe we should take that as an example on how to conduct our own life. Maybe BLM was modeled after him: screeching, criying, playing the vicim etc. And it works. It fucking works

On a more serious note how much did Phil actually pay on the CT Khondo mortgage? It was less then half right? Even during the "gravy train" of youtube he did not care to pay of his debts. And I wonder if his CT Khondo is still worth anything. This thing was empty for several years and wasn't it also damaged or somethibng like that? I doubt Midfirst will get much out of it in any way

 

[tzgnilki]

The "lawyer team" is going to have bigger fish to fry. They're probably spending their time going after people trying to skip out on McMansions that are $500K underwater, and stuff like that. $40K is just not that much money in the grand scheme of things. Most likely, some intern is just following a flowchart, pulling up Midfirst's standard boilerplate, copy-pasting Phil's info into the blanks, and passing the documents off to Midfirst's lowliest lawyer to be filed.

me trying to be realistic, I think some intern gets tasked with drafting papers to recover court costs from dsp, that's definitely a new debt, and ignoring the court summons only adds to the bill

he really thinks surrendering the property was the end of it, watch him get landed with repair costs and real estate fees ontop of court costs

could've avoided thousands if he just hired another lawyer to represent him during foreclosure, but dsp would rather buy a playstation and look at black friday deals lol

 

[UncleTusky]

On a more serious note how much did Phil actually pay on the CT Khondo mortgage? It was less then half right? Even during the "gravy train" of youtube he did not care to pay of his debts. And I wonder if his CT Khondo is still worth anything. This thing was empty for several years and wasn't it also damaged or somethibng like that? I doubt Midfirst will get much out of it in any way

"Less than half" is trickier than it sounds: Phil owed about $100k on a $130k mortgage but he was only 10 years into a 30 year mortgage and the early years of any mortgage are mostly spent paying down interest. Somebody upthread remarked that he would not have really been paying it down until around year 15.

According to the bank's complaint the initial mortgage was for just under $130,000 with a monthly payment of $730 and an unusually high APR of 5.5%. This is not a dig at Phil; I'm surprised a bank would offer a loan like this to anybody ~half a year after the mortgage crisis. If we assume his gout aunt lived there for one year and paid in full while she was there then this nifty little app tells us he paid approximately $78,840 half of which was for an apartment that was fucking sitting empty . This is also not including fees for utilities (at least where I live there's a $10-15/month surcharge just for being a customer) and the HOA (probably a few hundred/month) which probably would put the total cost over $100k.

I know I said before he must have skipped some months but it looks like I was wrong - the numbers line up well if you assume he was paying each month, I just didn't think anybody would be retarded enough to issue or accept a mortgage this bad!

EDIT: The other unknown is how property taxes are included here. Most banks include the property tax with the bill for mortgage payments but I do not know if the official paperwork with the bank includes them. If they weren't, that's another few hundred dollars / month right there.

 

[Freshtodeath]

When he signed the CT mortgage he had his helicopter job so they probably saw no red flags. The bigger question is how he pulled of getting the WA mortgage.

 

[AnOminous]

The "lawyer team" is going to have bigger fish to fry. They're probably spending their time going after people trying to skip out on McMansions that are $500K underwater, and stuff like that. $40K is just not that much money in the grand scheme of things.

How many of those people realistically exist? People with a million dollars you can actually collect. Yeah right. This is MidFirst, not J.P. Morgan. Almost all their shit is small fry like DSP.

When he signed the CT mortgage he had his helicopter job so they probably saw no red flags. The bigger question is how he pulled of getting the WA mortgage.

By getting it with Arvest Central Mortage, a really shitty mortgage company with a horrible reputation.

I know I said before he must have skipped some months but it looks like I was wrong - the numbers line up well if you assume he was paying each month, I just didn't think anybody would be retarded enough to issue or accept a mortgage this bad!

Issuing it isn't that bad. After all, even if you get an idiot like Phil who defaults halfway through, as you pointed out, he'd already paid off most of the value of the property. So when he defaults they get the property back and even if they short sell it they've still made a profit, albeit a small one. The retardation lies in accepting it. If you can get the sucker on a deficiency judgment on top of that, it's lagniappe.

 

[BScCollateral]

If you can get the sucker on a deficiency judgment on top of that, it's lagniappe.

I'm not in the mortgage agency, but given the current situation I could imagine adjusters are under orders to tread lightly. How many "Weeping widows thrown out of their homes" stories do you really want, no matter how justified it might be?