Bankruptcy Law
Homing in on Foreclosure
Posted Jul 1, 2008, 08:00 am CDT
By Steven Seidenberg
The Sallets needed some money. Desperately. In poor health and elderly, they were scraping by on Social Security checks that barely gave them enough to buy food and medicine. Then Leroy fell ill, leaving them with a daunting pile of medical bills. And their modest home was in urgent need of repairs. They wanted to replace the carpeting, for instance, because it had become so badly worn that it was hard for them to maneuver their walkers over its uneven surface.
It was 2006, and housing prices were sky-high in the Jacksonville, Fla., area, so Nettie and Leroy decided to raise some money by taking out a loan against their home. They didn’t seek counsel from a lawyer, and in… Continue reading...
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