Wisconsin Banking Update
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Well-Publicized Subprime Mortgage Cancelled
Posted on September 24th, 2010 No commentsMore than three years after he says he was duped into buying an inner city house and taking out a subprime mortgage loan, buyer Pedro Medellin is off the hook. Central States Mortgage Co., the now-closed mortgage lender, agreed to agreed to cancel the $103,500 mortgage Medellin took out in 2007. Medellin, a Waukesha bank teller, said he was tricked into buying the house when he thought he was just filling out a lengthy job application, according to the Milwaukee Journal Sentinel.Leave a reply