Homeowner forecloses on Bank of America (Bank had tried to foreclose on homeowner)

[woo me with science]

http://www.digtriad.com/news/watercooler/article/178031/176/Florida-Homeowner-Forecloses-On-Bank-Of-America

Bank of America Gets Pad Locked After Homeowner Forecloses On It
10:53 PM, Jun 3, 2011
Kelly Heffernan-Tabor


....Instead of Bank of America foreclosing on a Florida home. The homeowner had sheriff's deputies foreclose on the bank.

Bank of America had filed foreclosure papers on the homeowner, who didn't owe a dime on their home. They had paid cash for the house.

The homeowners went to court to prove they didn't owe anything on the house. A Collier County Judge agreed they didn't owe anything and never had a mortgage to begin with. Bank of America was ordered by the court to pay the homeowner, Maurenn Nyergers and her husband's legal fees for wrongfully trying to foreclose on thier house.

After more than 5 months, the bank still hadn't paid. So the homeowner's attorney did exactly what the bank was prepared to do to get their money, he went to seize the bank's assets.

....(more at link)

[tabatha]

1. Love it.

Unfortunately BOA won't learn a damn thing from this, except to be smarter about their nefariousness.

[Petrushka]

2. Gotta love it! --- K&R

:kick:

[Poll_Blind]

3. This is the second time I've heard of this happening. And it never gets less delicious.

PB

[nilram]

21. and this one's even better than the last, since they actually locked them out.

[Kaleko]

4. For someone from Europe,

this is just mind-fucking boggling. Is this what it takes to get justice in America these days? I'm stunned.

[rug]

10. Yes.

[eShirl]

12. If things could get like this here, well,

please learn from our mistakes and don't let it happen there.

[flvegan]

5. I'm not gonna say that's funny

but...

[Lucinda]

6. Awesome. :)

[Iwillnevergiveup]

7. Very good to see

But the real lesson is RUN to B of A, Wells Fargo, Chase, etc. Close out your accounts and open new ones in a smaller community bank or credit union. With their non-customer service and rising fees, the big banksters are sending a message they don't want our business anyway.

K&R

[newfie11]

8. yep, Our mortgage is with farm Credit. They pay us a dividend check every year

Something our bank never did,

[OneGrassRoot]

9. Definitely. :) n/t

[woo me with science]

16. Good advice. nt

[Glimmer of Hope]

11. Good for them!

[Selatius]

13. I hope the branch manager now knows firsthand what the poor go through when they lose their home. nt

[woo me with science]

14. One noteworthy thing about this story...

These people paid CASH for their home. They probably have some money. They had resources to take immediate legal action, and, having paid cash, were able to prove easily that they were in the right here.

It is not going to be quite as easy for someone who has years and years of mortgage paperwork and is struggling to stay above water, to afford legal action and to be quickly proven in the right.




At Bank of America, More Incomplete Mortgage Documents Raise More Questions
http://finance.fortune.cnn.com/2011/06/03/at-bank-of-america-more-incomplete-mortgage-docs-and-more-questions/?section=magazines_fortune

Bank of America and Morgan Stanley foreclosed on 178 members of the military, in violation of the Servicemembers Civil Relief Act
http://www.credit.com/blog/2011/06/soldiers-get-22-million-for-illegal-foreclosures/

Banks Said to Offer $5 Billion to End Probe of Foreclosures (Bank of America and JP Morgan Chase)
http://www.businessweek.com/news/2011-05-11/banks-said-to-offer-5-billion-to-end-probe-of-foreclosures.html

[cate94]

15. Perfect.

[oldlib]

17. Foreclosure

Our home was sold in a foreclosure sale, while I was negotiating a mortgage loan modification. When I was first advised that a foreclosure sale was possible I called Bank of America (BOFA) and was told that I could request a postponement of the sale, which I did. The sale went as initially scheduled and our home was sold to a third party. I called BOFA again and I was told that I could request a rescission (cancellation) of the sale, which I did. I then contacted HUD for their support, and when the new owner showed up,I then retained legal representation. BOFA is difficult to work with as my only contact is by telephone. I always speak to a different person, and there is no continuity as no one person has been assigned to my case. I have determined that this is a policy of BOFA, designed to project uncertainty for the loan modification applicant. I am hopeful, at this time that my attorney can rescind the sale.

[woo me with science]

18. I am so angry for you.

I have been frustrated with their phone labyrinth and the inability to talk to a local representative on less serious matters. I have also been treated like a criminal when trying to manage my own money.

But your story is much, much worse.

I wish you the best of luck in dealing with these bloodsuckers.

[oldlib]

19. More

I have been in negotiation with BOFA for over a year and 100's of phone calls. They shift you from department to department and the frustration is unbearable. I did receive a loan modification, after the foreclosure sale, that started in January, 2011 and my attorney has a copy of this agreement.

[woo me with science]

24. I'm glad you have an attorney.

It is outrageous, infuriating, and wrong that the system is set up so that you need one in order to get justice.

[The Blue Flower]

20. That lawyer deserves a medal

He's my new hero for having the sheer nerve to go through with it.

[avebury]

22. K&R

[Odin2005]

23. Karma!

[AllyCat]

25. Sweet Jesus this has made my night.