A man in the United States managed to live in his home for 23 years, even though he only paid his mortgage once. To avoid deportation, he declared bankruptcy seven times.
The 52-year-old bought the house in 1998. Two years later it was acquired by a real estate agency, but Gurmaret Hanspal hasn’t yet to leave the house.
He was able to successfully use the US suspension rules. These rules temporarily protect homebuyers from collections and evictions. Because he declared bankruptcy and took advantage of this rule, Hanspal was able to stay longer in his home without paying.
Incidentally, Hanspal wasn’t the only one to do the trick. Reports indicate that at least three illegal homeowners have misused this scheme, according to The Mirror.
Attorney for Diamond Ridge Partners, the company that actually acquired the house from Hanspal at the start of this century, Jordan Katz told the New York Post to condemn the action. “This is a group of people who will do everything in their power to abuse the legal system so that they can occupy a home illegally for a longer period.”
“Amazingly tall ”
According to Katz, Hanspal managed to survive an “amazingly long” 23 years. “As others tried the same, they couldn’t keep up for a long time.”
In those 23 years, Hanspal could have evaded around 366,000 euros in mortgage payments. He filed for bankruptcy for the first time in 2001, followed by another bankruptcy the same year, followed by two more in 2002 and one in 2003. When it stopped working at a certain point, a friend took over. This friend declared bankruptcy in 2005 and the scam could continue.