Home auctioned by mistake

Home auctioned to the highest bidder, by mistake.



I've been saying for quite some time now, that the system that most mortgage lenders/servicers work under is badly flawed and this confirms it, read this account of this poor family and tell me you don't agree:


My Bad! Woman's House Mistakenly Auctioned by Bank


A Homestead woman's home was auctioned to the highest bidder
By TODD WRIGHT


You know times are tough when people are getting kicked out of their house when it's not even for sale.That's what happened to Anna Ramirez after she found all of her stuff out on the front lawn of her Homestead home last week and a strange man demanding she get out of his newly purchased house.
The eviction came after Ramirez's home was mistakenly auctioned off to the highest bidder by her bank, Washington Mutual. Usually, you get a warning before you get the boot. A foreclosure letter. Maybe a sign saying your house is up for sale. Not Ramirez, who found her belongings bashed and battered in the street."This came out of nowhere," Ramirez said. "The bank took the house from right under my feet."
The man who bought the house told Ramirez he paid $87,000 for it, which shocked Ramirez, who bought the house for $260,000.What's worse is her husband, daughter and grand children were also kicked out by Homestead and Miami-Dade police officers, said Martha Taylor, who witnessed the unexpected eviction."I have never seen anything like it," Taylor said. "They literally threw all her stuff on the front lawn. I didn't sleep that night and it wasn't even my house."
Ramirez and her family had three hours to get out of the house, police ordered. They had to stash their belongings at multiple locations and shacked up with a friend for the night as cops chained the doors of their home. With Taylor's help, Ramirez appeared before a judge two days later to explain what happened."I had all my stuff scattered everywhere," she said. "They did this in front all my neighbors. It was so embarrassing."
A mistake in the Miami-Dade Clerk's Office appears to be behind the mishap, which landed Ramirez homeless for more than 24 hours.
The sale was eventually reversed by a Miami-Dade judge, allowing Ramirez to return to her old digs. Ramirez said she wants to sue for the damage to her furniture.
Ramirez has lived in the house for three years and recently refinanced the home with the bank."This shouldn't be happening, you know, because we did the right thing," she said. "We went step by step."

You might want to respond with "UNBELEAVABLE" but don't, because in today's crazy world of banks & Real Estate this is how it really is. I have had my very own clients experience first hand a lender selling their home out from underneath them with virtually no warning. One particular time we had a great buyer, were in escrow scheduled to close in 15 days and BOOM! House was sold at auction - lenders response- "OOOPS... that one must have fell through the cracks". And this was an attorney assisted short sale in which the attorney then demanded that they resend the sale - they did not.

So good luck to all of us who are trying to do the right thing and help people save their homes from foreclosure. We're going to need it!!!