Mortgage Problems

Trustee Sells Home If Defective Mortgage

03/27/13

If the mortgage on your home is defective, a chapter 7 trustee can sell the entire home even if you’re current with your payments and despite the absence of a payment default.   You get any equity – and good luck with obtaining a new mortgage – but the mortgage balance goes to your general creditors which now will include the mortgage lender.

Ouch!!  That certainly can hurt.

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Banks Foreclose on Homes With No Mortgage!

08/05/11

 In the current home foreclosure crisis, it seems some banks have become trigger happy.   It has become a bit of a recent anomaly why banks have suddenly and mistakenly gone after some homeowners with whom they have no claim.  Recently, Bank of America mistakenly brought a foreclosure action against a couple who had bought their [...]

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