Fraud, but also the length of time it took the bank to decide to foreclose. The boyfriend sold it to the girlfriend for what, like 100k over just 3 months later. Not on SDL, but it shows on Redfin. Then they pretty much lived there and stop paying for like almost year, eventually attempting a short sale.
I guess when they listed it, the bank let them continue to stay, and maybe they even paid a little something. But that whole process took a very long time before the bank said screw it and did the foreclosure. I mean, inordinate.
Padre – the NOD was filed 4/16/08. They had not been paying for many months before that. The bank took it back in August 2008, and then it immediately sold for 820k. And while it seems it just took only 4 months from NOD to foreclosure, the payments stopped well before April ’08.
