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: The Home Equity Theft Reporter

Another Foreclosure Screw-Up As Lender Approves Short Sale, Then Locks Out New Owner From Home A Week After Moving In

By r morris

In Fort Wayne, Indiana, The Journal Gazette reports: [First-time homebuyers Brian and A.J. Spitznaugle] had arranged what is known as a short sale, an increasingly common transaction these days. The owner of the house was in default on the mortgage, so the bank that held the mortgage, Chase, agreed to sell the house to the Spitznaugles for slightly less than was owed.***Slightly more than a week

Full post as published by The Home Equity Theft Reporter on December 20, 2008 (boomark / email).