Great Story of the Twisted Web called, "FraudClosure"

One of our members remembers that my wife and I were buying a home about this time last year and I had talked a lot about the ramifications of buying a bank owned or a short sale and I said that under no circumstances would I buy either one.

Because there were so many of these homes for sale and because owners with a clean title with a regular "arm's length transaction" were still fighting reality and listing their homes out of sync with the market (asking too much $$$) and because we were also buying a home for our dog and thus had certain standards needed to be in place (like no 2nd story townhouses, if there was a COA/HOA they had to allow large dogs, the place had to have a good size backyard, etc), it was VERY difficult to find a place which you would think would be the exact opposite, but we finally found the right place, a little more then we wanted to spend, but it worked out.

Well good thing I had the foresight to consider these things. Imagine you are this guy who bought what he thought was going to be a home, it turns out it was about as valuable as a cardboard box!

Thanks for the link Allan, it makes me feel a lot better about having spent s much time looking for the right place.