DEED in LIEU | 'Zombie notes' live to haunt deed transfers

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DEED in LIEU | ‘Zombie notes’ live to haunt deed transfers

DEED in LIEU | ‘Zombie notes’ live to haunt deed transfers

Thousands affected by Fannie Mae tactics

NEWS-PRESS

David Cruz Jr. got what he believed was a great offer in a foreclosure lawsuit filed against him by giant mortgage lender Fannie Mae.

If Cruz deeded the modest Fort Myers investment house back to Fannie Mae, the government-backed company would release him from the loan’s $123,750 note: the obligation underlying his mortgage.

He deeded the house back to Fannie Mae, but court records show he didn’t get what he bargained for.

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