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CA renter.
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May 8, 2010 at 12:26 PM #17430May 8, 2010 at 6:24 PM #548198
mike92104
ParticipantCould it have been foreclosed on?
May 8, 2010 at 6:24 PM #548309mike92104
ParticipantCould it have been foreclosed on?
May 8, 2010 at 6:24 PM #548791mike92104
ParticipantCould it have been foreclosed on?
May 8, 2010 at 6:24 PM #548890mike92104
ParticipantCould it have been foreclosed on?
May 8, 2010 at 6:24 PM #549165mike92104
ParticipantCould it have been foreclosed on?
May 8, 2010 at 11:57 PM #548318CA renter
ParticipantI’ve seen the “flipping to oneself” as well.
The owners moved out because they were being foreclosed on, and the house was listed as a short sale — and it was marked “contingent” the moment it was listed. Then, the family moves back in, and the deal closes after many months. The family never moved back out, to the best of my knowledge.
Not sure if they sold it back in their own name, or if a friend/relative “bought” it back, but there they are. Essentially, people can reduce their principal balances by hundreds of thousands of dollars by doing this. I’ve heard of other instances as well.
May 8, 2010 at 11:57 PM #548429CA renter
ParticipantI’ve seen the “flipping to oneself” as well.
The owners moved out because they were being foreclosed on, and the house was listed as a short sale — and it was marked “contingent” the moment it was listed. Then, the family moves back in, and the deal closes after many months. The family never moved back out, to the best of my knowledge.
Not sure if they sold it back in their own name, or if a friend/relative “bought” it back, but there they are. Essentially, people can reduce their principal balances by hundreds of thousands of dollars by doing this. I’ve heard of other instances as well.
May 8, 2010 at 11:57 PM #548911CA renter
ParticipantI’ve seen the “flipping to oneself” as well.
The owners moved out because they were being foreclosed on, and the house was listed as a short sale — and it was marked “contingent” the moment it was listed. Then, the family moves back in, and the deal closes after many months. The family never moved back out, to the best of my knowledge.
Not sure if they sold it back in their own name, or if a friend/relative “bought” it back, but there they are. Essentially, people can reduce their principal balances by hundreds of thousands of dollars by doing this. I’ve heard of other instances as well.
May 8, 2010 at 11:57 PM #549010CA renter
ParticipantI’ve seen the “flipping to oneself” as well.
The owners moved out because they were being foreclosed on, and the house was listed as a short sale — and it was marked “contingent” the moment it was listed. Then, the family moves back in, and the deal closes after many months. The family never moved back out, to the best of my knowledge.
Not sure if they sold it back in their own name, or if a friend/relative “bought” it back, but there they are. Essentially, people can reduce their principal balances by hundreds of thousands of dollars by doing this. I’ve heard of other instances as well.
May 8, 2010 at 11:57 PM #549286CA renter
ParticipantI’ve seen the “flipping to oneself” as well.
The owners moved out because they were being foreclosed on, and the house was listed as a short sale — and it was marked “contingent” the moment it was listed. Then, the family moves back in, and the deal closes after many months. The family never moved back out, to the best of my knowledge.
Not sure if they sold it back in their own name, or if a friend/relative “bought” it back, but there they are. Essentially, people can reduce their principal balances by hundreds of thousands of dollars by doing this. I’ve heard of other instances as well.
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