No. of Recommendations: 3
I know Casey Serin is usually cited as the poster child for the housing boom, but I found another one. She's looking for advice over on Bankrate.

She is in default to the tune of $235,000 on the first mortgage. (At least, that's what I think I'm reading. It's not totally clear). The real problem, I gather, is the second mortgage. And the third. And the fourth.

http://www.bankrate.com/finance/debt/a-short-sale-followed-b...

And people used to come over here and laugh at us when we said that a house should not be used as a four-sided credit card.

But I'm curious as to why on earth Wells Fargo allowed her to take out three mortgages. I know the mess is her fault, but clearly the bank needed a reality check.

Nancy
four mortgages. four mortgages. If I keep repeating 'four mortgages' perhaps it will make sense.
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