forclosure fraud? what's going on in florida?
Ok, the short version goes like this: Brother and sister-in-law, placed cash offer on single family home forclosure property in Naples, Florida over a week ago on a Wednesday. Bank had another offer and told both parties to come back in with best and final 2 days later on Friday. Last Monday, BIL & SIL placed 2nd offer. Tuesday - silence. Wednesday - listing disappears from MLS.
This property had been on the market for 6 weeks. Bank claims they are haulting forclosures. I am confused by this - I assumed "hold on forclosures" meant people could stay in there homes longer so banks could try to work with homeowners for a solution -- not that there would be a "hold" on sales of homes that were already forclosed on and vacant.
Is there a chance people can get there homes back? How can you get a clean title or deed if there is a chance people could "reclaim" their forclosed homes? How will inventories ever be reduced if you take forclosures and short sales out of the mix?
WOW, what a mess! Are we allowed to write the name of banks or institutions on this forum?
This particular bank should have worked harder to modify loans with homeowners like they were supposed to instead of keeping people on hold for hours and hours.
I read some of the "forclosure shadowing" posting and links, but I am still dumbfounded by the situation with my brother and sister-in-law.