Foreclosure sale follies

1397 King Street, purchased for $1.730 million in 2007, but lots of bad things have happened to people who bought houses here in that year

A report of an arrest at 1397 King Street for domestic disturbance caught my eye, because I thought I remembered a notice of foreclosure by auction on the property back last spring, and was surprised to learn that at least one of the defendants was still there. I checked the judicial docket, and sure enough, there had been an auction, the creditor had bought the property for the debt owing: $1,100,000, which is the usual result of these auctions, and title had been transferred to the bank. So what’s the former owner still doing there? Lord knows, but this report from the auctioneer illustrates the hazards and travails of the poor saps (lawyers, usually) who sell off these properties:

(Interesting factoid: as a young law associate back in the mid-80s I was occasionally ordered by my betters to conduct these auctions and even then, King Street generated a disproportionate share of foreclosures. Auctions in other parts of town usually proceeded without incident, but King Street sales often saw problems including, like this one, notice of foreclosure signs, required by law, torn down, owners refusing access to appraisers, and so forth. I completely understand why a home owner would fight fiercely to keep his family in their house but, sadly, when the game’s over, it’s over.)