Saturday, November 14, 2009

Homeowners don’t see the payoff

Clients stuck as firm bounces refi checks
Mary Ellen Podmolik - Chicago Tribune - Friday, November 13, 2009

Jeff Franson refinanced his mortgage in early April, switching from Chase to SecurityNational Mortgage.

But as he mowed the front lawn of his Mokena, Ill., home one sunny Saturday last month, a process server drove up and handed Franson papers saying that Chase planned to foreclose on the house.

Franson was current on his SecurityNational mortgage, but a $93,702.51 check that Counselors’ Title Co. had cut to pay off his old Chase loan had bounced. Chase was filing for foreclosure after months of calls and letters between Franson, his lawyer and the firms involved failed to resolve the matter.

Read the rest of the story:
Homeowners don’t see the payoff


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