Well here is one way to fight the foreclosures but not highly recommended. This is the story of a guy foreclosing on Fannie and Freddie. I can understand why he is frustrated by Freddie and Fannie taking back homes but I do not see where he thinks he owns them now. If he cares about the homeowner that lost them then he should put them back in it. there are many foreclosure homes in Tucson that most likely were not legally foreclosed on. Foreclosure notices are sent and often thrown away by owner of property because the banks won’t work with them. Owners will try putting their homes up for sale as a short sale, only to be turned down by the bank. The bank then forecloses and sells the property for less money on MLS on the open real estate market. I am sure it comes down to that the bank got paid by the mortgage insurance policy on these. The mortgage insurance companies would pay out less though had they agreed to pay even under a short sale. They will catch on after they lose several billion dollars.
Read the story here and share your thoughts.
http://www.azcentral.com/news/articles/2011/06/17/20110617tucson-man-taking-foreclosed-homes.html
