Jason Grodensky, a Fort Lauderdale man who bought his house with cash last December was surprised to discover that Bank of America had foreclosed on him, though he has no mortgage. Florida's foreclosure mills being what they are, the checks and balances against erroneous foreclosure have eroded to the point where banks can seize and sell homes they have no interest in.
Grodensky's story and other tales of foreclosure mistakes started popping up recently across South Florida. This week, GMAC Mortgage -- one of the nation's largest mortgage servicers and a major mortgage lender -- told real estate agents to stop evicting residents and suspend sales of properties that had been taken from homeowners in foreclosure. The company said it might have to "correct" some of its foreclosures, but was not halting those in process.
In Florida courts, which have been swamped with foreclosure cases for several years, mistakes "happen all the time," said foreclosure defense attorney Matt Weidner in St. Petersburg. "It's just not getting reported."
And the legal efforts required to resolve a foreclosure mistake are complicated. "Unwrapping it is like unwrapping Fort Knox," said Carol Asbury, a Fort Lauderdale foreclosure attorney. "It's very difficult."
Man's home sold out from under him in foreclosure mistake
(Thanks, Barry, via Submitterator
(Image: Thumbnail from larger photo by Robert Duyos, Sun Sentinel)
Rolls Royce just arranged for a “deferred prosecution” with UK prosecutors over revelations that it had committed jailable offenses by bribing overseas officials in order to secure their business; under this arrangement, prosecutors have allowed Rolls Royce to pay to have the prosecution halted and to have their executives immunized from criminal repercussions for their […]
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