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Some homeowners regain properties after foreclosure – 10/19/2011

Some homeowners regain properties after foreclosure – 10/19/2011

Some homeowners regain properties after foreclosure – 10/19/2011

October 19, 2011|By Paul Owers, Sun Sentinel

The housing bust has put thousands of South Florida residents on the sidewalk, but when a mortgage is foreclosed there is hope — sometimes even after a lender has repossessed the home.

In some cases, foreclosures are set aside, and the homeowners regain their properties because of errors by courts or lenders.

In at least one instance, a bank reversed its foreclosure and sold the home back to the former owner at a deep discount, apparently for no other reason than the deal made financial sense for the lender.

How can homeowners score these victories? Be persistent and get lawyers or consumer advocacy groups to work on your behalf, observers say.

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