Tuesday, October 18, 2011

'All Cash' Homebuyer/Couple Driven To Brink Of Foreclosure Over $60K+ Escrow Screw-Up; Closing Agent Cuts Check, Satisfies Lien After Media Intervenes

In Seattle, Washington, KOMO-TV Channel 4 reports:

  • It's one thing to lose your home because you stopped making payments on your loan or property taxes, but a local couple discovered their dream home was up for auction, because of a $60,000 mistake by the escrow company.

  • Hisham and Anna Othman were in near panic mode when they contacted me Wednesday. Records show someone at the escrow company dropped the ball more than a year and a half ago and left a huge lien against the title of their home.

  • The first red flag was in June, the Othmans says the notice of default they got in the mail was addressed to the previous owners, and since they've received other calls and mail for the previous owners, they thought it was another mistake. "They had the wrong people." said Anna. "We just kind of brushed it off."

  • Five months later in August, they come home to find a trustee sale notice taped on their front door- saying their house was set to be sold at auction on the fourth of November. Hisham called the trustee attorney handling the foreclosure.

For more, see Mistake by escrow company almost costs couple their home.

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