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"Mistaken" foreclosures by banks and other lenders.
invite response
2010 Dec 8, 3:40pm 1,662 views 3 comments
Comments 1 - 3 of 3 Search these comments
TechGromit
2010 Dec 9, 4:22am
" GMAC employee who ... contacted Williams and told him that an audit had revealed the bank had lost his loan's paperwork...."
Wish that would happen to me, Why? Cause it's a "FREE" house. Without proof they hold your mortgage, you can stop paying, and they can't foreclose. While you probably have to get a lawyer to fight you case, and be some aggravation, when you prove they have no legal standing, you can then sue for legal fees and court costs.
HousingWatcher
2010 Dec 9, 8:32am
All of these "accidental" foreclosures are actually dangerous to the people performing them. Sooner or later they are going to wrongly foreclose on a house in a 2nd Amendment friendly state (Texas) and someoen is going to get hurt. What do you think is going to happen when someone comes to a house and tells a homeowner with a dozen guns they are throwing them out?
klarek
2010 Dec 23, 4:28am
Wish that would happen to me, Why? Cause it’s a “FREE†house. Without proof they hold your mortgage, you can stop paying, and they can’t foreclose.
Keep dreaming. Someone lent you the money for that house, and they'll do whatever it takes to prove it.
I have read a few stories about this.
One from a while back:
http://www.nola.com/business/index.ssf/2010/09/florida_mans_home_mistakenly_f.html
Today I saw another one on Yahoo:
http://finance.yahoo.com/news/AP-IMPACT-Caught-by-mistake-apf-2623936411.html?x=0&setopStories&pos=6&asset=&ccode=
My question is this: How often is this happening? Is it a serious problem or just an overblown media show on a few isolated cases.
cheers.
#housing