facebook
twitter
rss
account
search
search
 

Squatters moving into upscale mansions

Sept. 23, 2010 at 7:20 PM   |   Comments

NEW YORK, Sept. 23 (UPI) -- With high-end foreclosures rampant, squatters have moved from low- and middle-income neighborhoods to occupy million-dollar mansions, authorities say.

Actor Randy Quaid and his wife Evi, who were arrested Saturday after they were found occupying a guest house on a million-dollar property, may be a poster couple for what appears to be a growing trend of people moving into abandoned, sold or foreclosed-upon mansions under the control of banks, MSNBC reported Thursday.

In this era of the collapsed housing bubble some squatters are taking advantage of those mansions shown nothing more than benign neglect.

In Malibu, Calif., Wells Fargo executive Cheronda Guyton crossed the line when she used to throw parties in a $14.9 million beach house.

Adding insult to injury, the property's former owners had lost the home to foreclosure after they were victimized by now-jailed Bernie Madoff. The estate was claimed by Wells Fargo, MSNBC said.

When residents within the gated community witnessed the soirees, they got Guyton's name from security guards and turned her in. Wells Fargo fired Guyton in September 2009.

"People are seeing all the negative news (about the housing market) and just deciding to be more gutsy and stay in riskier places," Kruse said. "With all the vacant homes, (they figure) their chances aren't that bad," Realtor Adam Kruse said.

Topics: Randy Quaid
© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
Source: Ferguson cop beaten before shooting
2
Brady Morton's body discovered three days after Port Huron Float Down
3
Boko Haram overruns Nigerian police academy
4
Amanda Curtis launches Montana Senate campaign after Walsh bows out
5
Oil spill reported in North Dakota
Trending News
Video
x
Feedback