Sacramento homeowner loses house twice to foreclosure (bank errors)

[The Straight Story]

Sacramento homeowner loses house twice to foreclosure

SACRAMENTO, CA - Miriam Lord lost her home of 19 years to a bank error, then lost it again while the bank tried to correct its mistake.

"It was a case of the left hand not knowing what the right hand was doing," said Lord's attorney, Paige Hibbert.

....

Loan payments misapplied; bank realizes mistake

Chase bank statements later revealed the four trial loan modification payments had been applied to the wrong account.

...

Following Lord's eviction, the house was vandalized, fixtures were stolen and there was evidence squatters had taken up residence.

"In essence what (Chase) said was 'here, have a piece of garbage back. Now you're the owner. Start making payments again,'" Hibbert said.

http://www.news10.net/news/article/156012/2/Sacramento-homeowner-loses-house-twice-to-foreclosure

[ixion]

1. ah, yes...so glad we bailed those thugs out

yeah, that was a good call. :sarcasm:

[LeftyMom]

2. Chase are a bunch of idiots.

A family member's loan wound up with them after they bought the bank that bought the bank that bought the bank (this goes on a while) that issued the loan. Luckily the house was just about paid off and we didn't have to deal with them for long, but they're total fuckups.

I'm wondering though, that snippet of paper they showed seemed to suggest that with her payments applied that lady owned $19x,xxx on her home? (I forget the exact number.) How does somebody wind up owing almost $200K on a tract home in an unremarkable neighborhood (Rosemont is working class, and a really inconvenient location) after nineteen years of payments? There might be more to this story.

[Mimosa]

3. K&R. Monstrous injustice is par for the course now.

:(