So just how many homes accidentally foreclose?
Okay, after over twenty years not much surprises me......not meaning "I have seen it all" (ignorant words). But this story blew me away. Truly evidence the lenders don't know their left hand from the right.
I doubt a study has been done, but I would guess the number is quite high.
I just had my second "accidental foreclosure" happen today.
The first was a few weeks back. In their eternal wisdom, the lawyers for Vericrest accidentally foreclosed a few weeks prior to our approved short sale closing. No one wanted it to happen, least of all Vericrest, so we are 6 weeks into rescinding the foreclosure now so that we can go ahead and close.
Today I just happened to be checking tax records on one of my listed properties. I was very surprised to find Bank of New York listed as the owner... huh?
We have been working the short for a year, and due to a string of Bank of America blunders, the good fight has just gone on and on ( a year now ). I check for new law dates frequently. The answer has always been the same....no sale date set.
A little shocked, I then checked the online judicial records. The most recent case entry I had seen prior was "motion to open and extend law date" from the last time I requested a postponement, which BofA was happy to give. I was quite surprised to find a "motion for deficiency judgement" entry on the court docs today...Hmmm...how is that possible? who sues for a deficiency before a foreclosure?
A string of phone calls reveals that - oooooppss! Turns out Bank of America's lawyers actually foreclosed almost 4 months ago, and failed to tell anyone, including Bank of America. They had no idea until I informed them today.
Very apologetic, the rep tells me that they will go ahead and rescind the foreclosure if my sellers want them to. I explained the situation to my sellers. I'm waiting for their decision. I dont blame them if they want to call it quits at this point. It's been a long rough road.
What a mess! But kind of makes me wonder....I really thought it was a random once in a lifetime occurrence the first time...but now...just how often is the ball dropped?
Just how many homes get "accidentally" foreclosed?
*************************************
Minna Reid is a full-time, full-service, Connecticut REALTOR®, specializing in short sales, serving central and eastern CT including, but not limited to; Andover, Ashford, Bolton, Columbia, Coventry, East Hartford, Ellington, Enfield, Hebron, Mansfield, Somers, South Windsor, Stafford, Tolland, Union, Vernon, Willington and Windham.
Comments(7)