More Innocent Homeowners Getting Sued
This story, by Shannon Behnken, which aired last night on Bay News 9 and is published in the Tampa Tribune, is the most recent example of how the foreclosure crisis can harm innocent Floridians, even as the persons responsible get off scot-free.
A Florida couple has been named as Defendants in a mortgage foreclosure case because, when they sold the property eight years ago, the legal description in their deed was wrong by one letter – and multiple sales later, the same mistake kept being made. The title companies who issued title insurance in the face of this mistake are nowhere to be found – the first one is apparently out of business – so this couple, who haven’t owned the home for eight years, are left to defend the case for themselves. Even though real estate professionals caused this mess, this couple has to ensure, all on their own, that the bank doesn’t obtain any monetary relief against them and that the lawsuit does not affect their credit.
Is Bank of America willing to help make this situation easier for these innocent parties? Of course not. A stipulation that the bank was not seeking money relief, coupled with a representation that the debt (which was not their debt, mind you) would not be reported to credit bureaus would have done wonders. But the bank would have none of that – it had no comment.
Mark Stopawww.stayinmyhome.com
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