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April 7, 2009
An Ohio man might lose his home to foreclosure after a title company allegedly failed to payoff the original lien holder after a refinance.
Rodney Everson said he cannot get in contact with the mortgage broker who handled his refinance and the title company that closed it is out of business. Everson's cash-out refi for $170,000 was supposed to payoff the existing mortgage of $142,000 but the bank called him a month later seeking payment.
Preferred Choice Title was to have paid off that loan, but was closed down after allegedly failing to pay off another $100,000 mortgage. Everson is filing a complaint with the Federal Bureau of Investigation.
Read story at Local 12 News
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