Rather than foreclose on both loans at the same time, Wachovia chose to foreclose, market and sell the worthless junior lien, purporting it to be the real property, which is what we purchased,” she said.
http://stopforeclosurefraud.com/2010/07/22/caveat-emptor-family-buys-worthless-wells-fargo-mortgage-at-auction/
http://finance.yahoo.com/news/Bailout-watchdog-calls-apf-1527849934.html?x=0