We’ve covered a number of stories of homeowners who weren’t behind on their mortgage payments but found themselves the subject of foreclosure because someone at the bank transposed a number or didn’t pay attention to the documents they were robo-signing. But here’s one about a Houston couple who find themselves facing foreclosure from Wells Fargo, all because someone never transferred the title.
The couple purchased the home in 2008 and made their mortgage payments every month to Bank of America. Unfortunately, not long after they bought the house, the title company used for the purchase went bankrupt and, unbeknownst to the homeowners, the title was never transferred.
That means the property still technically belongs to Wells Fargo, the bank that held the mortgage before the couple purchased it.
The error has been held up because of the title company’s bankruptcy for more than a year and a half and the couple says Wells Fargo has been unwilling to work something out.
“We did everything we were supposed to do. All this had been going on for two years. Nobody has communicated with us, notified us. We had been paying our mortgage and everything,” the husband tells MyFoxHouston.
Now, Wells Fargo has sent the homeowners a notice of foreclosure, and the husband says the bank has increased the cost to purchase the home from $130,000 to $170,000.
A rep for the bank tells MyFoxHouston, “We are exploring all options available to us to resolve this matter.”
Family Hit by Surprise Foreclosure [MyFoxHouston.com]