Robert 'Crab Bait' White consents to losing his houses

[The Observer]

Could we possibly get back to discussing Crabbie?

It would appear not, where’s a moderator when you need one ?

That would be one Arthur Wankspittle. He is in charge of the UK forums. I don't want to interfere in his bailiwick. But in the meantime, if you feel the need to comment on Gregg's electrical ennviroment, please create a new thread in "Gambling and the Good Life" forum. Any future off-topic comments in this thread will be deleted.

[Gregg]

Could we possibly get back to discussing Crabbie?

It would appear not, where’s a moderator when you need one ?

Oh okay.

Kids, its been fun. Much like that time you ran across the quad nekkid in college because you were drunk and in college. You can't do that shit now because it would be on youtube in a minute and then you'd never get to be Governor of New York. (Illinois and Louisiana are still possible, you need two felonies to be disqualified there.) We have run amok and awoke to find that maybe we should have not had that last Irish Car bomb.

Some say thy fault is youth, some wantonness,
Some say thy grace is youth and gentle sport;
Both grace and faults are loved of more and less;
Thou mak’st faults graces that to thee resort.
As on the finger of a thronèd queen
The basest jewel will be well esteemed,
So are those errors that in thee are seen
To truths translated, and for true things deemed.

So please, let's stick to Crabbie getting an invitation to hit the bricks. All further discussion of lighting problems not in Sheerness and related to a certain seafood being in the dark will be frowned upon.

I apologize I encouraged this lawless, irresponsible discussion.

[ArthurWankspittle]

Could we possibly get back to discussing Crabbie?

It would appear not, where’s a moderator when you need one ?

That would be one Arthur Wankspittle. He is in charge of the UK forums. I don't want to interfere in his bailiwick. But in the meantime, if you feel the need to comment on Gregg's electrical ennviroment, please create a new thread in "Gambling and the Good Life" forum. Any future off-topic comments in this thread will be deleted.

I am still here and yes I know we let things drift, but you seem to manage to get back on track eventually. Please keep it that way or I will have to step in.

[John Uskglass]

From White's FB page.

Right the naughty one's back again, I've learnt a lot from Bob and don't expect to get banned any more. Unless I'm really naughty lol. I will not speak freely any more, I will not post any photos of MPs with a head that looks like a penis and I will be good. I forgot to attend my 3 covid vaccination appointments but I will make more appointments if there are any available spots going. I will not contact my co defendant any more if I can help it and I will stop going into Essex if I can help it. Also I won't be attending Gillingham police station on 16th September as PC KEDWELL demands concerning his corrupt and fucked up investigation for allegations with no legs. Apart from that everything's good. How are you my friends?

https://www.facebook.com/Bob7White/

[aesmith]

Both the bank and the IP seem to have given up on getting his house.

[AnOwlCalledSage]

Both the bank and the IP seem to have given up on getting his house.

Won't the bank get it when he dies or sells? They've probably done the maths and the equity is worth far more than they are owed, so why not save on the legal fees.

[longdog]

Both the bank and the IP seem to have given up on getting his house.

I very much doubt it. There's just a hell of a backlog.

[longdog]

Won't the bank get it when he dies or sells?

He can't sell it. Apart from the state of the place it's not his to sell.

[The Observer]

Both the bank and the IP seem to have given up on getting his house.

Won't the bank get it when he dies or sells? They've probably done the maths and the equity is worth far more than they are owed, so why not save on the legal fees.

How old is Bob? If he still has an average life expectancy of 15 or 20 years, that is quite a while to wait to get your money back. It would be a logical thing to do if the lender knows that Bob will shuffle off his mortal coil in a couple of years or less. But it will only relieve them of dealing with the adversarial repossession that would occur if they did it now. It would still mean that the bank would have to foreclose on the note, take possession and conduct an eviction, make any required repairs, and sell it. All of those costs would not be avoided - and indeed would rise over the years as they wait due to normal inflation.

I have forgotten if the lender has already foreclosed. If they have, then that is one step and cost removed from the above.

Any foot dragging on the bank's part is most likely due, in my opinion, to the uncertainty of Bob refraining from carrying out the threats he has made in the past.

[John Uskglass]

Pure speculation, but if someone from the bank/IP is keeping an eye on him, they may feel that there's a good chance that he will be rehoused by Her Majesty in the not too distant future. Which would make repossession easier.

[AnOwlCalledSage]

How old is Bob? If he still has an average life expectancy of 15 or 20 years, that is quite a while to wait to get your money back. It would be a logical thing to do if the lender knows that Bob will shuffle off his mortal coil in a couple of years or less. But it will only relieve them of dealing with the adversarial repossession that would occur if they did it now. It would still mean that the bank would have to foreclose on the note, take possession and conduct an eviction, make any required repairs, and sell it. All of those costs would not be avoided - and indeed would rise over the years as they wait due to normal inflation.

Whilst I agree with your general point, aren't companies' profits bound beyond your puny human life spans? (I may have said too much!) I doubt one miscreant with a charge against his property is nothing more than a blip on the mortgagee's total balance sheet.

And current UK house price inflation far outstrips actual inflation, interest rates and Government bonds. In fact sitting on it would seem to be a good investment.

House prices were 13.2% higher than in June 2020, the Office for National Statistics said, following a 9.8% annual increase in May.

Softly softly catchee monkey.

Bottom line is that although we'd like Crabbie's arse to be handed him on a plate with immediate effect, a corporation's book value might take a longer look. The debt is still an asset.

[aesmith]

That's an interesting proposition, Crab Bait's house as a long term investment. The bank's redemption statement gave a figure of £24/day interest, so

The reason I made my comment is that it has now been more than a year since the IP made what looked like clear moves towards taking the house. Last activity shown was a letter confirming that the IP had applied to the court, the application was acknowledged and he was awaiting a hearing date. That was on 1st July 2020. I believe there was also some sort of deadline requiring the IP to make that application within three years of the date of bankruptcy.

Meanwhile regarding the bank he posted something in February there was something in January (2021) suggesting they were also shaping up to take the property. Referenced here, but the Facebook post linked has disappeared.
https://www.quatloos.com/Q-Forum/viewto ... 20#p287820

From comments elsewhere it looks like his main profile "Robert White" has been permanently killed off by Facebook, so maybe that removes all his content from the various groups as well.

[AnOwlCalledSage]

The reason I made my comment is that it has now been more than a year since the IP made what looked like clear moves towards taking the house. Last activity shown was a letter confirming that the IP had applied to the court, the application was acknowledged and he was awaiting a hearing date. That was on 1st July 2020. I believe there was also some sort of deadline requiring the IP to make that application within three years of the date of bankruptcy.

Ironically, he lucked out with Covid. Private property evictions were put on hold until 1st April. Repossessions only started up again on 1st June. I guess the IP's filing was so that he didn't fall foul of the legal deadline, but I suspect any actual eviction would still have been covered by the Covid suspension order.

[mufc1959]

I'm fairly certain that the bank which has the mortgage (NatWest, I believe) initially decided not to do anything because they were happy for the IP to sell the house and incur all the expenses because it probably seemed at that point that there was sufficient equity in the property for the bank, as the main secured creditor, to be paid out in full ahead of any other ecreditors. But when nothing happened and the IP didn't seem to be doing anything about realising the main asset and (obvs) Crabby had stopped paying the mortgage, arrears were increasing and eroding the equity, the bank took possession action and Crabby was evicted by bailiffs instructed by the bank as mortgagee in possession.

After that, Crabby broke back in again, and so now the bank will need to apply for a warrant of restitution (to restore possession of the property to the bank), but that's been stymied by the pandemic. The letter he got in January 2021 was the bank putting him on notice(!) of its intention to do just that, I believe.

[The Observer]

I doubt one miscreant with a charge against his property is nothing more than a blip on the mortgagee's total balance sheet.

Given the history of the legal steps that the lender has taken towards securing the property, it would seem that this miscreant has become more than a blip. Most lenders realize that they have to establish a reputation of being seen as pro-active with their loan portfolios since their depositors might start thinking that their investments with the lender could be at risk, and the debtors might presume that it is quite alright to miss a few payments since they are only a blip on the balance sheet. Of course there are always exceptions, and lenders tend to try avoid situations where public castigation will denounce them for foreclosing on the poor debilitated widow's log cabin in the woods. But Mr. White doesn't seem to be the sympathetic type.

The debt is still an asset.

Yes, and I agree that the rising values of properties against inflation is a nice hedge for the lender. But if the property value tends to drop due to deterioration or damage to the structure, if it starts being perceived as an eyesore by the local community (dragging their own property values down) or starts attracting unwanted criminal or indigent behavior (squatters or addicts, for instance), and generally just causes more headaches for the lender, they may want to get rid of it at any price. My wife, as an example, bought a property in a small city neighborhood in Tennessee that functioned as a halfway house at one point. The bank foreclosed and, despite rising real estate values in the area, tried to offload it as quickly as possible. There were structural problems that would have been costly to correct as well as the poor reputation of a vacant home that had housed paroled prisoners, so they were more than willing to agree to my wife's offered price, which was 50% below market price for similar homes in the area.

[AnOwlCalledSage]

But if the property value tends to drop due to deterioration or damage to the structure, if it starts being perceived as an eyesore by the local community (dragging their own property values down) or starts attracting unwanted criminal or indigent behavior (squatters or addicts, for instance), and generally just causes more headaches for the lender, they may want to get rid of it at any price.

I'm sure that I've seen something similar in the USA on 'Hoarders' but England & Wales has what are called Section 215 notices which deal with properties being kept in a way that is environmentally detrimental to a local neighbourhood and is a power of the local authority. It doesn't require the lenders to get involved, unless they want to.

[The Observer]

I'm sure that I've seen something similar in the USA on 'Hoarders' but England & Wales has what are called Section 215 notices which deal with properties being kept in a way that is environmentally detrimental to a local neighbourhood and is a power of the local authority. It doesn't require the lenders to get involved, unless they want to.

Ah, ok, I was not aware of that particular act. In most areas of the US, cities and municipalities rely on local ordnances and zoning as a way of ensuring that some sense of order is maintained in neighborhoods. Some of the more newer communities being constructed have a private contract, usually referred to as a HOA (Home Owners Association), that requires even higher standards within that community; an example would be requiring all homes to be painted with colors that have been approved for use by the HOA. But there is always one pinhead on the block that wants to break the rules, which takes quite a bit of red tape and time to get the wheels of the local government or HOA turning to deal with the problem house. And the lender in those situations would only get involved if the value of the property was being threated - which is highly unlikely if the issue was over the home being painted in Autumn Sand as opposed to the approved color of Polynesian Sand.

Of course, there are areas in the country where there are little or no ordnances governing the appearance and maintenance of homes. These typically are rural areas and outside the jurisdiction of the nearby city. It is in these places that anything goes, and I have seen examples of a very nice home literally next door to a towing business or a junk yard.

[hucknallred]

Crabbie has uploaded some police bodycam footage of his eviction.
I do believe he fired a Taser himself at the rozzers. Nasty piece of work.

[hucknallred]

Mirrored on Freeman Archives in case Crab's channel goes.

[longdog]

Not exactly the Battle Royale I had been led to expect.

He got stomped in under five seconds.