Jacksonville man receives foreclosed house for free

You read that right…. according to the Times-Union, one lucky homeowner won the mortgage lottery when his mortgage company turned over the house instead of fighting him in court.

“The investor on the loan, the bondholder on the trust, decided to write off the loan balance,” said a Wells Fargo spokesman, “because of the significant decreased value of the property.” He declined to give more details or further explanation.

While hoping for good luck is not a good legal strategy, sometimes things do work out.

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