Two men in Colorado Springs are accused of squatting in homes as part of a scheme targeting homeowners facing foreclosure. It is alleged that Bryan Jensen, 31, and Ethan Eaton, 34, were hoping to use adverse possession to gain ownership of homes with distressed mortgages. Under Colorado law, if someone uses a property for at least 18 years, it becomes theirs- free and clear.
According to police, Jensen and Eaton set up businesses to promote the scheme under the names, American Home Ventures LLC and Austin Home Ventures LLC. The website hopeforyourhome.com, defines their purpose as, “Establishing a plan that will turn your distressed property into a cash machine, regardless of equity” and that their company exists “to help good people out of tough financial real estate situations.”
Investigators allege the two were squatting in homes owned by people who reside out of state. They also helped several people trespass onto vacant properties in the city. Police have yet to identify those individuals. Police can confirm that Jensen and Eaton set up utilities in their names at the homes and filed adverse possession claims with the county clerk’s office.
This type of scheme is not limited to Colorado, adverse possession cases have been seen in areas across the country, including Florida, with a high rate of foreclosed homes.
Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.
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