A former Mercer County, Penn.-based mortgage broker, 40-year old Scott McCuskey, decided to gut his $1.2 million property right before the Sheriff’s foreclosure sale on the courthouse steps — unfortunately, not an altogether rare occurrence for those who have spent any time working in default management. Earlier this week, a judge sentenced him to three to 15 months in jail, and he also must pay more than $174,000 to the insurance company taking the loss because of his so-called “foreclosure rage.” The Pocono Record reported June 25 that McCuskey stripped cabinets, toilets, a Jacuzzi, locks, garage doors and other items, reducing the value of his home to $180,000. McCuskey apparently attempted to argue that “he didn’t know he couldn’t take the items,” the Pocono Record said. He defaulted on the mortgage back in 2004. Below, a video look at foreclosure rage:
Foreclosure Rage Equals Jail Time for Mortgage Broker
Most Popular Articles
Latest Articles
Have higher mortgage rates already reversed housing demand?
The strong economic data we’ve seen in the past several weeks underscore why the 10-year yield and mortgage rates rose last week.
-
How to get (or renew) your NMLS license in 2024
-
Anywhere’s Sherry Chris talks brand building, crisis management with the ‘Real Estate Insiders’
-
FHA commissioner, HUD counseling head on serving seniors with reverse mortgages
-
Shareholders sue eXp over alleged mishandling of sexual assault cases
-
Jobs report sends mortgage rates higher