Bank Meltdown Forces Eviction Of Blameless Homeowner

The grease fire that is the home mortgage business is reportedly set to claim a Wisconsin homeowner who paid his mortgage on time.

The Milwaukee Journal Sentinel reports the homeowner is facing eviction because a bank with which he refinanced his mortgage in 2008 didn’t pay off his original mortgage before the institution shut down. He’s been paying his mortgage, but wasn’t aware that he was still on the hook for the original loan. The original mortgage holder foreclosed on the homeowner in 2009 and auctioned off his house in January.

A judge offered a stay of the eviction order weeks ago, giving the homeowner 45 days to settle the disputed ownership. The man filed a title insurance claim, which he hopes will help him keep a roof over his head. He faces a hearing May 9 to sort out ownership of the property.

Milwaukee homeowner paying on time, yet facing eviction [Milwaukee Journal Sentinel]
(Thanks, Miss Dee Jane!)