An earlier version of this story incorrectly attributed information provided by Evan Goitein, a foreclosure attorney, to Malloy Evans, Fannie Mae's Vice President for default management. Goitein, not Evans, made the point that most deficiency cases he sees involve smaller banks. This version has been corrected.
Michel du Cille
The Washington Post
Jose Santos Benavides, 42, lives with daughter Gloria, 6, and the rest of his family in a Rockville apartment. The family left a four-bedroom house in Rockville in 2008 when Benavides could no longer afford to make mortgage payments. More than three years later, Benavides was told that he still owed $115,000 on the house he no longer owns.
For Jose Santos Benavides, the ordeal of losing his home was over.
The Salvadoran immigrant had worked for years as a self-employed landscaper to make a $15,000 down payment on a four-bedroom house in Rockville. He had achieved a portion of the American dream, earning nearly six figures.