Bank forecloses, changes locks and evicts Family. Family changes locks back and moves back in.

By
Real Estate Agent with South Metro Property Management, LLC

If you haven't heard this story yet, you've got to watch below. It's crazy. And it's gutsy. This family gave the bank a taste of it's own medicine--so to speak. 

It's also a classic example of why there is a moratorium on foreclosures with some banks. You know-- robosigning. The last thing banks want to add to their expense sheet is another lawyer. There will be lawsuits galore. I think we may see something very new-- foreclosure reversals. Not many, but there will be some worth telling about. 

Keep in mind these kinds of stories may make banks or lenders more inclined to sell properties before foreclosure through a short sale process. 

Sooooo, if you know someone in the Henry County area facing foreclosure, let me know. I'll try to help. Short sale may be the best way to avoid these kinds of nightmares.

Watch below. It is very interesting. They've already coined a new word--fraudclosure.



Comments (2)

Joe Sosky
KW Commercial - Vancouver, WA
Commercial Real Estate Broker - (360) 816-9652

Karen, thanks for the post.  Holy cats!  It seems there needs to be an advocate over seeing these fraudclosures.  Plus the other video that talks about pension funds.  Can you imagine the negative impact on the retirees if the pension finds get hit with loses?

Jan 05, 2011 05:13 PM
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Holy cow. While i like people who say they won't be kicked around and back it up, these guys have guts.

Feb 15, 2011 03:39 AM