I tried contacting Teresa Dixon Murray about possibly culling her three heart wrenching home foreclosure stories into three individual articles and am waiting to hear back. In the meantime, the two excerpts below are so amazing I wanted to help get this particular home foreclosure story out.
To read all three home foreclosure stories by Teresa Dixon Murray, please click here. The article also has a photo of the couple that lost their home over a 14 cent mistake.
Mortgage Foreclosure uproar sweeps up Northeast Ohioans:
by Teresa Dixon Murray of the Cleveland Plain Dealer
Martin and Kirsten Davis lost their home in Cleveland to foreclosure two years ago. The reason: a mess that started when they accidentally paid 14 cents too little on their monthly payment. Martin Davis wonders whether anyone truly read his case file before his foreclosure was approved.
He refinanced his home on the Cleveland-Garfield Heights border in 2003 with People's Choice Mortgage, and the loan soon was sold to Ocwen Financial. The second month, he accidentally paid $595 instead of $595.14. Ocwen imposed $2,200 worth of fees and penalties, which Davis couldn't afford to pay and couldn't get wiped out despite countless phone calls.
The home remodeler soon received a foreclosure notice and filed for bankruptcy to stall the action. He lost his home in February 2008 and is now renting a home in Parma. "I've wondered myself whether they actually went through the paperwork," said Davis, 44. "Why should I have lost my home over 14 cents?" "We went through so much," Davis said. "Every night we prayed that they wouldn't take our house. It was all we had." Ocwen, as well as other banks involved in these foreclosures, would not comment about the (3) cases (featured in the longer version of this article found at the link above).