Man Benefits from Foreclosure Error on Jacksonville Property
In a recent post, we mentioned the fall of powerhouse attorney foreclosure firm, David J. Stern. As a result, many foreclosure cases are in limbo and lenders/servicers are struggling to figure out where to go next.
For one Jacksonville investment property, the entire loan was written off and the man who owns the property owns the property free and clear of any liens now. David Stern was handling the foreclosure case against the owner of the Jacksonville property.
The loan was for around $72,000. The owner made one payment and then stopped paying because the value of the property dropped dramatically. However, once Stern dropped the case, Wells Fargo didn't feel it was worth pursuing because the value of the property had dropped drastically.
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