A Tucson mayoral candidate from a fringe political party has seized dozens of foreclosed homes in metro Phoenix, changing the locks, kicking out real-estate agents and posting "Do Not Trespass" signs.
Marshall Home, who claims many foreclosures are illegal, has filed documents in the past two weeks with the Maricopa County Recorder's Office showing he has supposedly taken ownership of at least 21 homes belonging to government-owned mortgage giant Fannie Mae. But none of the documents shows any money has changed hands, and Fannie Mae says it has not sold the houses.
Real-estate agents and experts say Home's documents, a type of real-estate form called a special-warranty deed, aren't valid.
"Fannie Mae has not authorized the transfer of the properties in question to the organization," spokesman Andrew Wilson said. "We will pursue appropriate legal action and involve law enforcement as necessary."
But for now, Home's Independent Rights Political Party Trust is claiming to own the houses. Several of the homes have people living in them.
"Lenders are gangsters, and they can't prove they own these homes. So they have no right to foreclose," said the 80-year-old self-professed billionaire from his real-estate and political office in Tucson on Tuesday. "I plan to continue to take homes from Fannie Mae and Freddie Mac. I would buy them, but those groups can't produce the notes showing they are the rightful owners to sell or foreclose on them."
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h/t Zerohedge
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