Lucas County Public Records
Real estate investors beat the banks to profit on foreclosures
TAMPA
In just eight months, Barry Haught and his business associates have acquired 71 properties in Hillsborough County with a market value of $8.2 million.
Total purchase price according to public records: just over $220,000.
Haught's group is among a new breed of investors who have found an unusual niche: buying properties foreclosed on by homeowners associations because the residents didn't pay their dues. Given so many struggling homeowners and the abundance of HOAs in Florida, the potential for profit is great.
The opportunity has attracted some unlikely buyers, among them Haught, who spent 4 1/2 years in prison for Medicare fraud and whose own home is in foreclosure.
Haught and his associates have landed some amazing deals:
• A $1.2 million bayfront home in Apollo Beach for $10,010.
• A 3,700-square-foot home in north Tampa for $8,090.
• Dozens of single-family homes in Brandon and Riverview for less than $4,000 each.
Investors like Haught can rent out the houses, pocketing the income for months or potentially years until the bank finally forecloses — and they don't have to tell tenants that the lender could kick them out at any time.
Sometimes, associates of the group move into the homes. Among them: Edward Pruse, 36, who did time in state prison in connection with a 1999 armed robbery of a Largo movie theater. Pruse, who said he finds homeowners association foreclosures for the investor group, now lives in a 4,000-square-foot house in Brandon that sold in 2006 for nearly $700,000. The group got title in December for less than $7,000.
"We're the new way of buying and selling real estate," Pruse said. "We're an epidemic."
And it's all perfectly legal.
• • •
Haught, 57, attends foreclosure auctions, signs documents and collects rent on behalf of four companies officially headed by Michael Chancey, son of Tampa marketing consultant Ralph Chancey.
The Chanceys and Haught are longtime friends. In 2001, Michael pledged a Valrico home he owned as collateral for Haught's legal fees after Haught was indicted for bilking Medicare out of $14 million.
And when Haught was released from prison in 2008, he went to work for Ralph Chancey's consulting firm.
Haught declined to comment for this story. Michael Chancey, president of Prop. Inc., F.Y. Mortgage, F.Y.M. and P&D Resources, did not personally return several requests for comment.
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The Haught-Chancey group has acquired about a third of its properties through such transactions, in which the price paid is not part of the public records. "It's called capitalism,'' Tankel said. "It's the free market." The strategy works because of
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History of Lucas County, Iowa, containing a history of the county, its cities, towns, etc. : a biographical directory of many of its leading citizens, war record of its volunteers in the late rebellion, general and local statistics, portraits of early settlers and prominent men, history of Iowa and the northwest, map of Lucas County, constitution of the United States, reminiscences, miscellaneous matters, etc
The first proceedings which appear upon the records of the probate side of the county court were had at the December term 1853, as follows: ESTATE OF THOMAS ...History of Lucas County, Iowa, containing a history of the county, its cities, towns, etc
The first proceedings which appear upon the records of the probate side of the county court were had at the December term 1853, as follows: ESTATE OF THOMAS ...Memoirs of Lucas County and the city of Toledo, from the earliest historical times down to the present, including a genealogical and biographical record of representative families
"We deem it fitting in this public way to pay all due respect and honor to a man who, ... the ranks of the Lucas County Bar and laid low one of our members, ...Media law reporter
Mandamus is the appropriate remedy to compel compliance with Ohio's Public Records Act, RC 149.43. State ex rel. Lucas Cty. Bd. of Commrs. v. ...The Northwestern reporter
the district court; and that it has not been among the records of that court since that ... Appeal from district court, Lucas county; Dell Stuart, Judge. ...Day-by-day Info Directory
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