| Mortgage Forclosure The forum for everything related to Mortgage Forclosure |
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02-10-2011, 04:36 PM
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How can someone owe more on a mortgage at...
...foreclosure than they paid for the house? I just saw a house that was purchased with a mortgage for $212,000 in 2007, and they recently foreclosed on her. At the time of foreclosure, she owed $221,000. Where did the extra $9000 come from? Or what was she doing the past 3 years that she lived in the house? It's actually a HUD house now (listed for $127,000), so I assume it was an FHA loan that she had.
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