Foreclosure

[Roy Williams]

Hello friends, my dreams of a real estate empire are going up in smoke. I won't bore you with the details but I have a handful of properties that I stopped paying the mortgage on about 12 months ago. The banks started foreclosure proceedings on one or two.

But today I received a letter regarding one property where the servicer said the lender was releasing the lien on the property. I have two other properties with the same lender. Why would they randomly choose this one to release the lien on and WHY would they do that? It seems to be their only security especially since the loans are delinquent.

[Steve Babiak]

I can only speculate but maybe it is to just pursue a personal judgment rather than a judgment against the property.