You know that I have previously written about a house for sale in our neighborhood. Well, I’m happy to report that it has sold to a family with children and they are actually going to live in the home. This home has been bought and sold many times since we have lived here. If you look on the tax record, it’s actually been bought and sold 10 times and it is a 10 year old house! Some of those bought and sold were during the mortgage scams and you can see that that is probably what happened with that home… an investor would sell it back and forth a couple of times.
But that house has had a history of being bought by an investor because it had come up for foreclosure. It seems that back in the day; investors were the first to be offered a bid on foreclosures. The banks never put them out for the masses – the general public – or the realtors who represented the foreclosure companies. We’re not certain what happened with this particular house. Apparently it was purchased by investors who rented it. Then a year later the signs would go up in the window again announcing that it was in foreclosure. So either the renter did not pay the investor or the investor did not make his loan payment.
Whatever happened, we could not be happier to see a real family in the house…and we can’t wait to see their Halloween costumes!
Honored as one of the 2010 Best Mortgage Brokers in Dallas! for D Magazine. Ranked 25th in 2009 production in the category Largest North Texas Residential Mortgage Lenders, according to the Dallas Business Journal!
Geoffrey is the “Frisco Mortgage Guy”!
P.S. I use DropBox as a more secure way to move papers back and forth – FREE! If you sign up from this link – we BOTH get an extra amount of storage space, still FREE!!!