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Real Estate & Property Law

: The Home Equity Theft Reporter

Novice Online Foreclosure Auction Buyer Wins Bid, Takes 'Bath' On Underwater Home Subject To Existing $220K Mortgage Lien

By r morris

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In Orange County, Florida, the Orlando Sentinel reports:OK, maybe it was too easy. With just a few clicks of the mouse, Orlando accountant John Dey bought a Lake Nona-area house that was auctioned off during one of Orange County's new, online foreclosure auctions. And get this: In the kind of deal espoused by get-rich-quick authors, he paid just $20,000 for a house worth close to $200,000.But as

Full post as published by The Home Equity Theft Reporter on February 05, 2011 (boomark / email).

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