Elderly Texas Woman's Home Accidentally Sold Out From Under Her; Bank Admits, Straightens Out Error

In North Texas, WFAA-TV reports on an 88-year old woman behind on her mortgage payments and threatened with foreclosure. With the help of her son, she was able to obtain a payment plan with the lender, Wahington Mutual/Chase, back in December. Despite the arrangement, the lender allowed the home to be sold at a foreclosure sale anyway, albeit accidentally. The woman found out about the sale when the new buyer appeared at her front door and introduced himself. Reportedly, the bank's attorney advised the homeowner that the sale proceeded in error, that he sent the new buyer his money back, and that she'll get to keep her house.(1)

For the report, see Home of woman, 88, mistakenly sold at foreclosure auction.

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(1) This story serves as a reminder that, even if a homeowner facing foreclosure is lucky enough to reach a payment arrangement with a lender, the homeowner still has to assure him/herself, through the court system and by obtaining confirmation from the lender's local foreclosure attorney, that the foreclosure action has either been cancelled, or at least been placed in abeyance pending the successful completion of the payment arrangement. At 88 years of age, this lady could have literally been "buried" by a surprise like this. ForeclosureLockOuts