Owning a home is the American dream for a lot of people. But what happens when that dream comes crashing down?
Teresa Fusco bought a condo three years ago in Reading, Pennsylvania. But last year, her building's owner went into foreclosure. Her building complex sold the whole property to a company that turned the condos into rentals. Now this new owner gained the majority of voting rights.
Fusco and other condo owners were given an option: Pay rent for the property on top of mortgage payments or move out. Fusco had to leave her home, and the process has left her in financial ruin.
Fusco shares her story this morning on "Starting Point," and real estate attorney Adam Leitman Bailey (not Fusco's attorney) explains how future homeowners could avoid a similar situation.