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We Have a Defective Foreclosure -- Huh?!?!
So I'm not even sure where to start on this one...
About a week ago my sister-in-law mentioned that she saw a notice in the local newspaper that a house I had an accepted offer on was going to sheriff's sale in mid-September? Huh?!?

The offer was accepted by the bank, the inspection was scheduled, and the buyer's financing was underway. So I brushed it off as some sort of error.
But then I checked yesterday's issue of the same newspaper, and lo and behold -- there it was. A sheriff's sale is scheduled for 1:00 pm on September 17 at the county courthouse. Huh?!? How could this be??
So I emailed the listing agent who called back a short time later. "We have a problem." Huh???
He proceeded to tell me that after a few phone calls he was able to talk with the foreclosure attorney for this house and was told there were actually two mortgages on this house. One had been foreclosed but the other -- well, not so much.
So you know that offer I said was accepted? It meant nothing. And the listing contract this agent had with the bank who supposedly now owned the ... more

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