Wells Fargo and U.S. Bancorp each lost a crucial foreclosure case on Friday. The Supreme Judicial Court upheld a lower court’s ruling invalidating two mortgage foreclosures because the two banks did not prove they owned the mortgages before selling the properties at foreclosure. 

The court ruled in favor of the homeowners by a vote of 6-0.  This could have paramount implications on the nation’s largest banks.  For foreclosure sales in Massachusetts that were initiated without a proper mortgage assignment, this ruling means the former homeowners still own the property.  It also means it most likely will affect improper foreclosures across the country.  

Wells Fargo and U.S. Bancorp Lose Foreclosure Ruling

2500 Robinhood Road, Winston-Salem, NC Foreclosure – $596,900

This home has recently been reduced, and is currently $80,000 below tax value.  It was originally listed at $674,900, so it looks like the bank is ready to make a deal.  There’s plenty of room as it’s over 5000′.  Many repairs have been made, but like most foreclosures, the home is sold “as is”.  Contact us today if you are ready to see this gorgeous home.  336-462-9544

See More Pictures of this Buena Vista Foreclosure

Are you looking for the BEST foreclosure deals like this one?  Sign up for our FREE Foreclosure HOT List!

*Listing agent Re/Max Realty – Property Info provided by Triad MLS