Nashville-Area Foreclosure Rescue Operator Reportedly To Return Home Signed Away By Owner In Sale Leaseback Arrangement

In Nashville, Tennessee, Newschannel 5 reports on an experience that homeowner Thomas McKissack had with foreclosure rescue operator Sean Queen in a purported sale leaseback transaction in which McKissack, who was facing foreclosure, unwittingly signed away his home.

• The letter [offering foreclosure help] came from Sean Queen, who owns a local real estate business. NewsChannel 5 Investigates found court papers that show Queen has been sued at least two different times for what's known as sale lease/back transactions. Court documents show Queen sent letters like the one McKissack received to people on the verge of foreclosure. They would sign a series of papers thinking they were getting a loan -- but in fact they signed away ownership of their home and agreed to become renters.

***

• "I think we are going to see more of these scams," says Sharmila Murthy, an attorney with Leiff, Cabraser, Heimann and Bernstein. Murthy has represented several clients who unknowingly signed away the deed to their homes in an effort to avoid foreclosure.

***

• [A]fter NewsChannel 5 Investigates began questioning the deal Queen agreed to give McKissack his home. Queen's attorney is drawing up papers to transfer ownership back to McKissack. [...] As for Sean Queen, he says he is no longer in the real estate business. The McKissacks have hired an attorney and they say they are reviewing paperwork that would give Thomas McKissack the deed to his home once again.

For more, see Homeowners Unknowingly Sign Away Property (read story) (watch video).

Go here for an example of the type of letter Queen has been alleged to have sent to homeowners facing foreclosure (see page 2).

For a post involving a related story involving Sean Queen, see Tennessee Federal Court Invokes Equitable Mortgage Doctrine In Denying Motion To Dismiss Foreclosure Rescue Litigation.