Foreclosure Investors Flip Homes, Reap Rewards

Mary Jane McGraw knew her foreclosure ordeal was over when a man showed up on her doorstep and told her that her home in Oak Park, Calif., had been sold. She had a month to leave.

McGraw, 66, hadn’t been able to make a mortgage payment for a year but remained in her house regardless, fighting for a modification. Then in March, she said, the man arrived. “He said, ‘I represent the investors who have purchased your home,'” said McGraw. According to a deed later sent to McGraw, the house had been bought by a California-based couple.

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