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Ruthless Lenders: 3 Foreclosure Horror Stories

Horror Stories from Victims of Foreclosure Some lenders will do just about anything to get their money if you fall behind on your mo...



Horror Stories from Victims of Foreclosure


Some lenders will do just about anything to get their money if you fall behind on your mortgage payments. From changing locks in the night to creating false documents when needed, some of these institutions have used dirty tricks to harass borrowers that have not been able to pay up.  The following are some of the most outrageous horror stories from the foreclosure world, and although shocking, are absolutely true.
  1. Kicked Out at Gunpoint – After living in her home for 18 years, Christine Frazer and her family were thrown out of an Atlanta home at gunpoint. The DeKalb County Sheriff’s department evicted the family with guns drawn.
  2. Lies and False Promises - When the economy crashed, Wells Fargo offered to modify Steve Bailey’s loan.  After making several trial payments, Wells Fargo notified him that his modification was on the way. A few days later they sent him a letter saying the modification was denied. The Wells Fargo representative had deceived him. When he called and asked the rep about the letter he received, he was assured that the notices had been sent in error.

    Steve later found out that Wells Fargo reported him delinquent on his mortgage for the last six months, and those payments he was making were put into a separate trust, and were not used to help pay down the debt he owed. In court, he lost the case, despite the evidence in his favor, and after losing his home he later lost his business. With lenders, trust after verification is always the best policy.
  3. Jumping the Gun - Rose Nathan lost her South Bend, Indiana home after she had worked out a deal with CitiMortgage (her lender) to voluntarily walk away in a “deed in lieu of foreclosure.” On Christmas Day, she received a phone call from CitiMortgage telling her she had to leave the property right away and that “a sheriff’s sale was coming.” With her life uprooted, she decided to sell her stuff and she moved to Hawaii to start over.

    The city of South Bend sent a letter to her 2 years later demanding $5000 in unpaid taxes because the bank never followed through with taking legal possession of the property. Her credit was damaged and the debt crushed her credit because the deed-in-lieu action had already lowered her score by ~100 points. Today, after these hits to her credit, if she wanted to take out a auto loan it would have a 25% rate.
Don’t become another Foreclosure Horror Story. Contact The Infurna Law Firm and hire an aggressive foreclosure attorney to defend your rights.
Orlando Foreclosure Lawyer 1410215714619366577

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