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Real Estate & Property Law

: The Home Equity Theft Reporter

Home Purchaser Loses Life Savings After Seller Pledges Property As Loan Collateral After Pocketing Buyer's Cash & Failing To Give Recorded Title

By r morris

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In Sullivan City, Texas, KRGV-TV Channel 5 reports:A father used his life savings to buy a home for his daughter. He was hoping she would never have to worry about a mortgage. Now, they've learned they don't own the home.Frank Gonzalez made a deal directly with the owner of the house on Alamo Street four years ago. [...] He paid $68,000 cash. It was money he saved over 30 years of working

Full post as published by The Home Equity Theft Reporter on August 25, 2010 (boomark / email).

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