Just as new owners were about to move in, the previous owners of a foreclosed house in Simi Valley, Calif. reoccupied it with locksmith, attorney and camera crew in tow.
Investors who had purchased the home at a lender’s trustee sale had been hoping to have its new owners in it this week. But Jim and Danielle Earl and their nine children returned to the home because, she says, she believes it will be difficult for their family to find another permanent place to live if they comply with a court order to vacate the home. That order, says their lawyer, was the end result of fraud.
And then their are the homeowners who have been making their payments on time and now are struggling to continue and are told by their mortgage holder that “we can’t help you until you are 2-3 past due on your payments”. I find this ridiculous, why not help these individuals stay in their homes instead of adding to the already overwhelmed market of foreclosures. Who is the victim here? These banks are giving homeowners no other alternative but to stop making payments and ruin their credit.
I am not sure how this is going to be resolved, but I hope everyone takes this seriously.