Appeals Court Rules Against Fannie Mae in Foreclosed Property Case
June 16, 2017
The Missouri Court of Appeals recently reversed a judgment that was in favor of Fannie Mae in a case the GSE brought against a couple who purchased a foreclosed property. The disagreement about the property, purchased by Harvey and Christine Pace in 2002, centers on who owns the title to the home. At the time of the home purchase, the property’s seller lived out of state and executed a special warranty deed conveying the property to the Paces. But the promissory note to purchase the home only identified the husband as borrower because the wife did not sign the note or the deed of trust.