http://www.ktvb.com/news/Valley-woman-says-she-bought-half-a-house-228121911.html In this news article an old woman bought a homen from Fannie Mae for cash. The buyer didn't realize that the property line went right through her home. I read this and I am thinking that a lot of people didn't do their jobs correctly. My title officer would have picked it up (as would most others). Fannie Mae should have picked it up before they marketed the home. The Realtor should have read the comittment document. The net result is that this old lady owns half a home. Without the loan underwriters looking at this transaction everyone else must of gotten a bit lazy. It's easy... It's cash... Well just cause it can close doesn't mean it should. We owe it to our clients to try to protect them...
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