Victim Of Home Refinance Gone Haywire Who Never Missed Any Mortgage Payments Gets 6-Month Hold On F'closure Eviction As Parties Work Toward Resolution

In Milwaukee, Wisconsin, the Milwaukee Journal Sentinel reports:

• A six-month reprieve has been issued to Keon Williams, the north side man whose home was sold at a sheriff's sale in January even though he was current on the only mortgage he knew he had.

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• The delay provides time to try to resolve the mortgage issues swirling around Williams either through negotiations or court action.
• Williams, whose dilemma was the subject of a Journal Sentinel report last month, has been teetering on the edge of eviction for months because he is caught in a vise created by the national mortgage meltdown and some fast dealings by the now-defunct Central States Mortgage Co. and an affiliated company.
• In 2008, Williams, a single father of three, refinanced his home through Central States, which had been the state's largest mortgage broker. However, unknown to Williams, the proceeds from that 2008 refinancing were not used to pay off his previous lender, Amcore Bank. Amcore was bought by Harris last year.
• Instead, Interim Funding LLC - an affiliate of Central States - used the money to pay off a different lender, said Stephen Kravit, an attorney for Richard Jungen, an owner of Interim and the founder and former chief executive of Central States. The FBI has been investigating Central States and some of its former executives since 2009.

For more, see Eviction postponed for six months (Caught up in mortgage mess, Milwaukee man gets a reprieve).