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Real Estate & Property Law

: The Home Equity Theft Reporter

Bona Fide Purchaser Status Not Available To Lender For Failure To Inquire Into Continued Possession By Ex-Homeowner In Equity Stripping Scam

By r morris

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A 2009 case ruled upon by a Federal court in Chicago, Illinois dealt with the following facts:Homeowner Davis was facing foreclosure and entered into a transaction with a foreclosure rescue operator in which the homeowner unwittingly conveyed full, unconditional title to the operator, and received $18,000 upon consummation of the transaction, a transaction that Davis believed to be a mortgage

Full post as published by The Home Equity Theft Reporter on February 23, 2010 (boomark / email).

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