With so many properties in foreclosure these days, it seems that lenders can’t always keep straight who’s delinquent and who’s not:
A Nigerian couple who are victims of a mortgage mix-up filed a lawsuit Monday in Williamson County [Texas] against the company that removed everything they owned from the house, including family heirlooms, furniture and even food from the pantry.
Bobo and Joy Dickson are suing Field Asset Services Inc. for failing to return their property. The lawsuit seeks money for the lost property plus compensatory damages, and called the company’s conduct "malicious, callous and wanton."
This was especially surprising as the Dicksons had barely moved in:
In early May, the Dicksons bought a house that had been headed for foreclosure. All the paperwork was completed.
But the foreclosure process apparently wasn’t halted, and the couple came home from work May 14 to find all their possessions gone.
Maybe it’s a good idea to see proof of cancellation of the trustee’s sale when closing on that short sale. It’s rough getting "foreclosed" on before you’ve even made the first payment!
Not sure if this one is on the sidebar, related to the fraud story from yesterday though.
http://uk.reuters.com/article/newsOne/idUKN2634924420080630
Aw heck, here is a bit more news from Wisconsin.
MADISON, Wis. — A divided Wisconsin Supreme Court said that home buyers who feel they have been victims of fraud by the seller cannot bring civil lawsuits to recover damages.
Dissenting Justice Ann Walsh Bradley said the decision released Tuesday means a person selling a home can look a buyer in the eye and lie about the home’s condition and escape legal consequences in civil court.
She accused the four justices in the majority of legislating from the bench.
The majority determined that the economic loss doctrine applies to home sales. That doctrine is designed to bar civil claims for economic losses in cases involving a contract for a product.
Bradley said expanding that to home sales is bad for Wisconsin’s real estate market and consumers. http://www.channel3000.com/money/16759515/detail.html