Kamal Sharma almost lost his house in a foreclosure auction. The funny thing is: He doesn't even owe any money on it.
Kamal Sharma, left, and real estate agent Manny Toledo visit the house Sharma purchased in West Sacramento, Calif., as income property. Even though Sharma had paid cash, Bank of America listed the house in a foreclosure auction. Renee C. Byer
Sharma's story — an extreme case even in Sacramento's chaotic real estate market — shows that lenders continue to make foreclosure mistakes despite extensive publicity and promises to fix problems, which include sloppy paperwork and communication breakdowns.
“There are a lot of people that have been wrongly foreclosed upon,” said Kevin Stein, associate director of the San Francisco-based California Reinvestment Coalition.
Read the rest of the article at The Oklahoman
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