Bank of America@ forcloseme ,com

[Plane]

http://news.yahoo.com/s/time/20110606/us_time/httpmoneylandtimecom20110606homeownerforeclosesonbankofamericayesyouheardthatrightxidrssfullnationyahoo


Lovely story , actually makes a lawyers fee seem reasonable.

Homeowner Foreclosures on Bank of America (Yes, You Heard That Right)
By TARA-NICHOLLE NELSON Tara-nicholle Nelson – Mon Jun 6, 4:50 pm ET
In a modern-day evocation of David's slingshot triumph over Goliath, a couple of foreclosed homeowners in Naples, Florida reportedly foreclosed on a Bank of America branch last week, their attorney actually having moving trucks pull up in front of a Naples branch to execute a foreclosure judgment against the bank.

What must have seemed to observers like a scene out of a parallel universe - you can see some video here - was actually the fair and logical conclusion to a situation which, the court had ruled, had an unfair and illogical start. In 2009, retired police officer Warren Nyerges and his wife, Maureen Collier, paid $165,000 cash for their 2,700 square foot home in the Golden Gate Estates subdivision, and never took a mortgage out on it. So imagine their surprise when, in Februrary of 2010, Bank of America initiated foreclosure proceedings against them. The Nyerges hired an attorney, Todd Allen, to defend them against the wrongful foreclosure, and the Bank eventually abandoned the matter.

But not before the Nyerges incurred $2,534 in attorney's fees, which they requested informally from Bank of America multiple times before resorting to the courts, which ordered the bank to make the couple whole. When B of A still had not paid the judgment after five months of phone calls and letter writing by Allen and the Nyerges to the bank insisting that the court order be obeyed, Allen took the next step in the legal collection process, obtaining an order of foreclosure against the bank. (See The Best Blogs of 2011)

"They've ignored our calls, ignored our letters, legally this is the next step to get my clients compensated," Allen stated during an interview with CBS News.

Allen then reported to a local branch of the bank with sheriff's deputies, who he instructed to remove cash from the tellers' drawers, furniture, computers and other property. Approximately one hour later, the Naples News reports, the bank manager produced a check for $5,772.88 to satisfy Allen's fees and additional costs.
......  the rest of the article explains that B of A is kind of slack and could loose busindess that way

[Stray Pooch]

I so love this!  BOA should stand for "Bunch of Assholes."

[Kramer]

I so love this!  BOA should stand for "Bunch of Assholes."

I think you just changed their name!

[Plane]

That kind of nick name could stick!

[Xavier_Onassis]

This was stupid of the Bank of America, but how was it that they were even aware that this couple had bought a house for cash?

There must be more to this story.

It is unlikely that the BoA looked up the names and address of these people in public records and then just foreclosed on them. This almost certainly started by some act of stupidity with the bank, which they refused to recognize.

[kimba1]

for the bank to not know the couple paid in full is incredibly rare, but I can easily see how the bank would ignore the couple in claiming they paid for the house. I very much doubt any bank is set-up for this situation and wil believe this couple is scaming them. not defending the bank but understand how it would go this far.

most likely it would take several more of this to get banks to do followups if such claims arise again. businesses tend to think it won`t happen again

[Xavier_Onassis]

Once a bank or other business makes a decision, the decision will not be reconsidered by anyone who has the power to change it, and the flunkies will defend the decision because they see this as doing what they are paid to do.

[Amianthus]

This was stupid of the Bank of America, but how was it that they were even aware that this couple had bought a house for cash?

Having worked in IT in this area (just never for BoA) and my wife currently working in this specific area (home mortgages, though again not for BoA) we surmised the following as being the most likely scenario. Previous owner had a mortgage with BoA and title company screwed up somewhere along the line with notifying BoA that the house had been sold (could have been a transcription error on the deed number or a wrong address for the house or the mortgage contract number being transmitted incorrectly). Some time later, BoA is cleaning up from it's mortgage meltdown, and this house is listed in their database as still having an outstanding mortgage that has had no payments made in X months. So, they filed for foreclosure, and the foreclosure attorneys did not do their requisite title search before sending the forms on to the court.

Since apparently (from another source) BoA has at some point terminated their contract with the foreclosure attorneys in question, I'm guessing that they screwed up more than once, we just haven't heard about the other cases...

[kimba1]

that sounds about right,but if thiers more of these and the bank still don`t double check this MIGHT get real bad.

[Xavier_Onassis]

That sounds like a reasonable explanation.

[kimba1]

might be wrong,but that lawyer`s rep went up big time

[Kramer]

That sounds like a reasonable explanation.

I think it's Sarah Palins fault!