Identity Theft and foreclosure

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allware

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My jurisdiction is: NC

A friend has been a victim of identity theft, the person who stole his identity has been convicted. This person took out several mortagages and lines of credit on my friends personal residence. He has been sending letters to banks but the process has been takeing a long time.

He is worried that his house could be foreclosed on before this is taken care of. He has been told that the bank can foreclose on his house and then he would have to fight in court to get the property back. This has really stressed him out that he will get home and see a foreclosure notice.

Can a bank foreclose on a house because of fradulent loans taken out because of idenity theft?

If they can, is there anything you can do to prevent the foreclosure?

Thank you
 
What did the lenders say when you explained all this to them?
 
Not sure, this truly is a friend who is in this situation. He is telling me that he has sent registered letters and returned the call from collection callers. Several has taken the loans off but a couple have not really responded. But one source has told him that they could show up at any time and give foreclosure notice and then that is is a quick snowball effect and that he would probably lose the house and then he would have to fight to get it back.

If he has the proof that the loans were taken out fradulently can they still take his house and force him to fight to get it back?

Thanks
 
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