Monday, October 10, 2016

After $30K In Payments, Detroit Mom Finishes Paying Off Home Purchased On Land Contract Only To Find Out Seller Lacked Title To Premises

In Detroit, Michigan, WXYZ-TV Channel 47 reports:
  • A Detroit mom is furious and feels like she has been scammed after learning the house she bought on land contract is owned by the Detroit Land Bank Authority.

    Corey Parker paid nearly $30,000 to Detroit Property Exchange for a house on Detroit’s west side.

    The mother of four made her last payment in 2013 and got the deed to the home. Now she is learning, she doesn’t own the home.

    The Detroit Land Bank Authority does.

    According to records, the property was turned over to the Detroit Land Bank Authority from the City of Detroit, which obtained the property through a foreclosure in 2004.

    Parker learned she wasn’t the property owner after being contacted by the Detroit Land Bank Authority. She tells 7 Action News when she tried to clear up the confusion with Detroit Property Exchange, her calls went unreturned.

    7 Action News paid a visit to the company’s Midtown location and spoke with Christian Segura, who said he is the sales manager.

    Segura told us at the file and try to get to the bottom of the problem, which could take until Friday. He called the 7 Action News room shortly before our story aired and told us, ""We found the file, reviewed it and Ms. Parker paid the property off on March 1st, 2013. The deed was issued to her on March 29th, 2013. After that she satisfied the land contract and our obligations to her ended at that point. We also pulled up on public records, and show that city of Detroit took possession of the home after that, sometime between then (meaning March) and December. The deed issued to Ms. Parker was recorded on January 30th. 2015."

    When asked if Detroit Property Exchange would return Parker’s money if they did indeed sell someone a property they didn’t own, Segura said, “that would make sense.”

    The Detroit Land Bank Authority is also working with Parker to keep her in her home.

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