Buyer beware: Major problem with a 2009 Countrywide/ Freddie Mac foreclosure purchase

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Buyer beware: Major problem with a 2009 Countrywide/ Freddie Mac foreclosure purchase

Buyer beware: Major problem with a 2009 Countrywide/ Freddie Mac foreclosure purchase

Fox4Now-

If you’ve ever owned property, you know how it’s supposed to work. You pay for it, you get the title. And you would think that property’s yours, right? Not so fast. Four In Your Corner’s Liza Fernandez introduces us to a couple who bought a lot in Lehigh Acres that’s now in legal limbo.

This Lehigh Acres house was supposed to be a dream retirement home for Kathy and Gerry Powers.

“All the paperwork and everything came through, and we basically had the the two half-acre lots and the house,” Kathy tells us by phone.

Snagged at a great price in a 2009 foreclosure, the Indiana couple then decided to sell when their retirement plans changed a few years later. They felt lucky to find a buyer.

“Then we got a call. Their title insurance company discovered an error that the half acre that was supposed to accompany our home did not actually legally belong to us. And it could not be sold,” Kathy explains.

[FOX4NOW]

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One Response to “Buyer beware: Major problem with a 2009 Countrywide/ Freddie Mac foreclosure purchase”

  1. Here is where schedule B comes in to play. It appears the title companies are exempting any clouded title issues on schedule B not to be liable for the mess they have causes and enabled for coverup of the banksters crimes. They may get their down payment back, or they may be in limbo and have to pay all kinds of litigatIng fees and never get it taken care of due to clouds on the title and no one knows who owned the note and it is stolen property. It appears this will be decades of nightmares in the future. If they are allowed all the discovery process this can wind up not being their property and the title company exempted themselves from being liable. READ SCHEDULE B. iT appears most if any to non of the titles are clear titles.

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