So it begins… Families taking back from the banks what they believe they were cheated out of. :shock:
Just two days ago, I blogged about how title insurance may play a big role if foreclosed homeowners should come back to haunt the banks by trying to reclaim ownership. This issue particularly strikes a cord with me, as I became a homeowner recently - purchasing a property a bank had foreclosed on.
Well, what I imagined could happen had already happened last Saturday. Down in Simi Valley, a suburb of LA, a family broke back into the house that the bank had taken away from them. With the local ABC news film crew invited to the move/ break-in, the family of 11 reclaimed the house they say they were illegally evicted from. The scary part is that the vacant home had already been sold to new owners.