Tucson Mayoral Candidate Seizing GSE REO

A mayoral candidate in Tucson, Az., is taking the housing crisis into his own hands, seizing foreclosed homes owned by Fannie Mae and Freddie Mac in an effort to help homeowners get their property back.

The aptly-named Marshall Home of fringe political group Independent Rights Political Party Trust has been running around changing locks, booting real estate agents and posting "Do Not Trespass" signs on more than a dozen homes in the metro Phoenix area, The Arizona Republic recently reported.

The 80-year-old candidate has filed what are known as special-warranty deeds with the Maricopa County Recorder's Office, but experts contend the documents aren't valid, the article said.

A Fannie Mae spokesman was quoted as saying that the government-sponsored enterprise has not authorized the transfer of any of the properties in question.

Registered as a Democrat, Home is considered a long-shot candidate. His opponents are trying to get him expelled from the race due to a criminal record, the paper reported. But Home told the paper he will continue to seize homes even if he is not elected.

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