So, when we ran across this story about an Iowa couple that got a "free house" due to a wonko loophole in Iowa law, we thought, "Yippee!" Finally, someone stuck it to the big bad banks.
Sure, we hate thinking this way, but since this whole financial crisis started, we've heard story after story of banks messing around with hidden fees and costs, and so many banks giving loans and mortgages to people knowing full well they couldn't afford it. It was nice to finally hear that a homeowner won a victory. It was like Homeowners 1, Banks 2.36 million (the number of properties repossessed from December 2007 through June 2010).
But, as with everything, as everyone should do whenever signing documents, you need to read the fine print. So, we read the fine print of this story about Matt and Jamie Danielson ... and those lucky homeowners don't seem so lucky anymore.