Thursday, March 17, 2011

House paid off after one payment

Wouldn't you love a free, $278,000 home? As the Register reports, a hasty home-loan approval and a 123-year-old law that requires mortgages be signed by both spouses helpedMatt and Jaime Danielson fight foreclosure all the way to the Iowa Court of Appeals. They won, and though they made only one payment to lender Citimortgage, the mortgage is now void and they get to keep the home. The Iowa Bankers Association is backing legislation that would change the law so this never happens again.


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