Legal Question in Real Estate Law in Georgia
I lost my home in foreclosure a few years back, it was a horrible situation, long story short, id built it myself. The balance on the note due was $151,046.84. The home appraised for $179,000. Somehow Freddie Mac purchased it for $120,830.00 at "fair market value", sent me a 1099-c for $30,216.84. The same day the foreclosure happened, us bank sold the note for $0 to Federal home loan mortgage corp. 8 months later it sold for $179,300, basically the appraised value. How does that work and how is it legal that i lost my home and equity, it was passed off that way, I was billed for the difference on a tax form, and a company walked away making $50,000 off the deal?
Asked on 9/09/23, 10:42 pm
1 Answer from Attorneys
Richard Bryan
Richard Bryan Attorney PC
Yup, ripping people off.
Good luck.
Answered on 9/25/23, 10:08 pm