Legal Question in Real Estate Law in Georgia

I lost my home in foreclosure a few years back, it was a horrible situation, long story short, id built it myself. The balance on the note due was $151,046.84. The home appraised for $179,000. Somehow Freddie Mac purchased it for $120,830.00 at "fair market value", sent me a 1099-c for $30,216.84. The same day the foreclosure happened, us bank sold the note for $0 to Federal home loan mortgage corp. 8 months later it sold for $179,300, basically the appraised value. How does that work and how is it legal that i lost my home and equity, it was passed off that way, I was billed for the difference on a tax form, and a company walked away making $50,000 off the deal?

Asked on 9/09/23, 10:42 pm

Richard Bryan Richard Bryan Attorney PC

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0 attorneys agreed

Yup, ripping people off.

Good luck.

Answered on 9/25/23, 10:08 pm

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