Santa Clarita Valley CA - According to a story in the Sun Sentinel [1], Bank of America foreclosed on a paid off house. Here is an excerpt from the story.
" When Jason Grodensky bought his modest Fort Lauderdale home in December, he paid cash. But seven months later, he was surprised to learn that Bank of America had foreclosed on the house, even though Grodensky did not have a mortgage.
Grodensky knew nothing about the foreclosure until July, when he learned that the title to his home had been transferred to a government-backed lender. "I feel like I'm hanging in the wind and I'm scared to death," said Grodensky. "How did some attorney put through a foreclosure illegally?"
Court records show Countrywide Home Loans filed a foreclosure case in Broward County civil court against the former owner of the home on Southwest 14th Street in 2008. Bank of America took over Countrywide at the end of that year.
The following year, Grodensky and his father Steven bought the house for cash as an investment property. Jason Grodensky's brother Kenny Sloan lives in the house now. They negotiated a short sale, which means the lender agreed to accept less than the mortgage amount. Documents show the sale proceeds were wired to Bank of America. The sale was recorded in December 2009 at the Broward County Property Appraiser's Office.
But in court, the foreclosure case continued, the records show. There was a motion to dismiss the case in July, followed the next day by a motion to re-open it. A court-ordered foreclosure sale took place July 15. The property appraiser's office recorded the transfer of the title to Fannie Mae the same day."
As you can see, Bank of America is very disorganized. Many agents claim they are the worst lender to do short sales with. Make sure you hire an experienced short sale agent if you plan on short selling your house and your loan is with Bank of America.
Short sales happen with them every day. But, their short sales are more difficult and usually take more time.
If you have questions about the short sale process, then please send me an e-mail at cliff@cliffhildreth.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (661) 904-1194.
Thinking about a loan modification? Our Santa Clarita Valley Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Email me at: cliff@cliffhildreth.com. I will be happy to forward you our kit free of charge.
Thanks for reading this, Cliff Hildreth.
Cliff is a Real Estate Agent at Keller Williams VIP Properties.
Phone: (661) 904-1194. cliff@cliffhildreth.com.
"Together We Can Make It Happen"
View My homes for sale at www.cliffhildreth.com.
Cliff Hildreth specializes in loan modification assistance and short sales in Santa Clarita Valley California. Santa Clarita Valley Loan Modification Help, Santa Clarita Valley Short Sales. Santa Clarita Valley Short Sale Realtor. Short Sale Realtor. Santa Clarita Valley CA Short Sales. Santa Clarita Valley Realtor.
Copyright 2010. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Hildreth's personal views and do not reflect the views of Keller Williams VIP Properties. This information on will my neighbors find out that I am short selling my house is provided as a courtesy to our viewers to help them make informed decisions.
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