WTF! Florida Woman Claims Diet Pills Led to Home Purchase She Regrets

[RKP5637]

http://abcnews.go.com/Business/florida-woman-claims-diet-pills-led-home-purchase/story?id=29528626



There's buyer's remorse, and then there's buyer's remorse by reason of temporary lapse of judgment due to diet pills.

At least that's the claim of a Florida woman who is asking a court to let her back out of a home purchase because, she says, "judgment-altering" diet pills led to a decision she now regrets.

Mary McKaig of Orlando, Florida, said she mistakenly bid on a foreclosed home that has more than $400,000 of debt, according to the Orlando Sentinel, citing court papers. McKaig, 54, bid for the home on the website RealAuction.com on Feb. 19, the same day she began taking her prescription of phentermine diet pills, according to her court filing.

On Feb. 23, she filed an objection in Orange County circuit court to halt the sale, which is permitted within 10 days of a foreclosure auction, according to Florida law. In documents provided by RealAuction.com, the four-bedroom home in Windermere, Florida, has an assessed value of about $276,878. McKaig claimed in her court papers that she immediately realized she made a mistake after submitting the bid of $100,500, according to the court filing.

[justalovebug]

1. How does the home have $400,000 of debt to it?

Can't be back taxes , not that high

Contractor liens but how was it sold then ?

It couldn't be with $400,000 in liens on it.

[cui bono]

4. I've never heard of buying debt along with a home myself. Is that common? n/t

[justalovebug]

9. It's not the norm but it can happen with a city or state lien

I never heard of one being able to be sold with any personal liens on it.

Contractor liens etc..

[Travis_0004]

5. Mortgage payment

House was once appraised for 400k or more and has a mortgage outstanding.

If somebody buys a secondary note then they can move in but the primary mortgage holder still has the rights to the house and can foreclose.

[justalovebug]

10. Never heard of that before in an home sale

Learned something new today

[RKP5637]

15. I was wondering about that too! n/t

[Warpy]

2. Not quite jazzed up enough to clean that barn, eh?

She shouldn't worry too much, it was a lowball bid and will likely be rejected.

In any case, she's covered by law, she can halt the sale if the mortgage lien holder smells money.

[Kingofalldems]

3. Would she be liable for the $400,000 debt?

[Travis_0004]

6. No, but they will foreclose on the house and kick her out

The primary mortgage holder (chase bank, 400k) can kick out the secondary morgage holder (the lady in the story).

[Kingofalldems]

7. Damn, so why would anyone buy a house like this?

Looks like a scam perpetrated by the mortgage industry.

[Travis_0004]

12. buying a secondary mortgage often gives your rights to pay off superior liens

If the primary mortgage holder owed 50 grand, then you could buy the second mortgage and payoff the first.

Since the primary note is more than the house is worth the secondary note is essentially worthless. Real estate auctions are no place for amateurs.

[justalovebug]

11. Is this common practice in auction properties ?

Why wouldn't there have been a reserve set at $400,000K by the bank?

[Travis_0004]

13. because nobody is bidding on the primary mortgage.

They are bidding on the secondary mortgage which should be obvious to anybody there with the disclosures.

[onethatcares]

8. windemere, where the shit don't stink

and where the unwashed masses that clean/cut/work for a living have to be out by dark.

I wouldn't want a house there.

[lpbk2713]

14. What she paid was actually owed to the HOA. Mortgage is still outstanding.

And her husband was in on the purchase too. And he wasn't taking diet pills.

[RKP5637]

16. Definitely a case of buyer's remorse. The diets pill IMO are CYA trying to not look/sound

like fools.