Thousands affected by Fannie Mae tactics
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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