Another Lender Wrongfully Seizes Former REO It Recently Sold

In Grand Rapids, Michigan, WZZM-TV Channel 13 reports:

• It's happened again -- another recently purchased home broken into by a company that was hired to take care of foreclosed homes. WZZM 13 News reported a story Monday about a Newaygo County couple who paid cash for a foreclosed home, only to have their possessions taken six months later.

• On Tuesday morning, we got another call. This time, workers with a non-profit organization in Grand Rapids said they had a near-identical situation. The organization purchased a foreclosed home a year ago and completely renovated the property. Last month, though, the same company that maintains foreclosed homes, broke-in and winterized the property.

***

• There were several warning signs posted throughout the house. [Vanessa] Remo called the company listed on the papers, Field Asset Services. "They were very adamant that American Home, a mortgage company, was the person that owned it, so we called and did some research and it was Deutsche Bank that sent them out," says Remo. "I must have sat on hold for two hours, and nobody ever called back."

For more, see Company apologizes for removing property from Newaygo County family's home.