Bank Of America Gets Pad Locked After Homeowner Forecloses

[Wild Bill]

Bank of America Gets Pad Locked After Homeowner Forecloses On It

 

Collier County, Florida -- Have you heard the one about a homeowner foreclosing on a bank?

 

Well, it has happened in Florida and involves a North Carolina based bank.

 

Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff's deputies foreclose on the bank.

 

It started five months ago when Bank of America filed foreclosure papers on the home of a couple, who didn't owe a dime on their home.

 

The couple said they paid cash for the house.

 

The case went to court and the homeowners were able to prove they didn't owe Bank of America anything on the house. In fact, it was proven that the couple never even had a mortgage bill to pay.

 

A Collier County Judge agreed and after the hearing, Bank of America was ordered, by the court to pay the legal fees of the homeowners', Maurenn Nyergers and her husband.

 

The Judge said the bank wrongfully tried to foreclose on the Nyergers' house.

 

So, how did it end with bank being foreclosed on? After more than 5 months of the judge's ruling, the bank still hadn't paid the legal fees, and the homeowner's attorney did exactly what the bank tried to do to the homeowners. He seized the bank's assets.

 

"They've ignored our calls, ignored our letters, legally this is the next step to get my clients compensated, " attorney Todd Allen told CBS.

 

Sheriff's deputies, movers, and the Nyergers' attorney went to the bank and foreclosed on it. The attorney gave instructions to to remove desks, computers, copiers, filing cabinets and any cash in the teller's drawers.

 

After about an hour of being locked out of the bank, the bank manager handed the attorney a check for the legal fees.

 

"As a foreclosure defense attorney this is sweet justice" says Allen.

 

Allen says this is something that he sees often in court, banks making errors because they didn't investigate the foreclosure and it becomes a lengthy and expensive battle for the homeowner.

 

ORIGINAL STORY FROM WINK-TV IN FORT MYERS, FLORIDA

 

CBS News / WINK

[jimbojinx]

Great post !!!!

 

In fact there are thousands and thousands of bank and mortgage brokers and related others who should be in jail right now!!!!!

 

They broke the law repeatedly as they took this country down the tubes.

 

Check out the book by Morganstern of the NYTs- "Reckless Endangerment ".

 

This country was killed by the likes of Chris Dodd and Barney Frank and they used Fannie Mae and Freddy Mac to do it !

 

See Karl Deninger's blog: market-ticker.org or do a Google on his name for more extensive details.

 

dr. Jinx

[mrd]

I think you need to look much further than blaming Dodd and frank for the financial crisis. Sounds like you listen to Faux news.

 

Perhaps you should look in to Phil Gramm and how he supported killing the Glass-Stegal Act of 1934 which separated banks that trade from conventional (and boringly profitable) banks. Grams bill worked out really well for Enron (esp since his wife was on Enrons board) Not so good for the people. Look how well that worked out.

 

Then there is that little meeting during the Bush years where major banks went to the White House and asked for and got permission to leverage up from 10 to one to 35 to one. They used that money to make very large and very very risky bets that caused the bailouts when those bets fell. It would be like one of us going to Las Vegas and using borrowed money to bet on one number on the roulette wheel (the payout is 35 to one ) and loosing . You would not just owe the casino you would still owe your original lender. Lets say you got some fool to keep lending you money 35 times your money to make that same bet 35 times. You might win a couple of times but in the end your grandchildren would (for sake of example) still have to pay the huge money back. Then you go to your rich uncle (the taxpayers and say "Bail me out or everything will fall apart! So you get your rich uncle to cover your bets. Then you give yourself gigantic bonuses for doing such a good job!

 

That was socialism for the rich. They could not fail. That's still what they want and they will do anything to stop restrictions. They fail we pay.

 

It is even more complicated than that but that is the gist of it. Dodd and Frank are trying to limit the banks closer to the restrictions that were in existence before the elimination of Glass Stegal. But guess who doesn't want that? The big banks. Guess who is giving lots of money to stop that to politicians (esp Republicans) to stop the regulations? Guess which side of the argument that Fox news tends to support?

 

Having no rulkes in banking is like having a football game with no rules and movable boundrys. We would be able to count the dead after football games.

 

You might want to read Bailout Nation by Barry Ritholtz to get a better picture of what happened.

[Frank R]

Awesome!

All it takes in this country to get justice is a lawyer, an armed security detail, and some moving men.

The system works just as our forefathers envisioned.

[mrd]

I do think the people who foreclosed on the bank still need to sue the bank on a civil level for the injustice that was done to them. If they do not the only one's who make out are their lawyers. (Who did a great job!) That should include a public apology by the head of the bank.

[+Silverblue]

Bank of America is EVIL. I'm glad they got foreclosed, I wish that would happen to all those who pulled that crap and I agree the couple should still sue. These companies are abusing their position and ruining this country. they made backroom deals, not just B of A but others, too. They screwed the people and we're still paying for it. I wish they'd FRY IN HELL for the misery they caused. I wish they'd LOSE EVERYTHING and it'd go BACK TO THE PEOPLE. All this crap that's going on has been occurring for centuries, those in power abusing it and causing undue suffering just so they can live in luxury and get away with crimes that'd land anyone else in jail for many years. I lived in CA during the enron disaster, during that time, for a short while, there was a good company that had very low electric rates but they got run out of the area I was in. I think they're still in Northern CA. Eventually enron's stock went way down, we protested and did all we could to make them stop bleeding us dry. They had to repay us but it wasn't enough, though the small compensation helped a little. Our rates were unfair and someone managed to make them pay something but not till after brown-outs and blackouts. I call it a form of terrorism, but for them it was legal. I lived through that mess and still have a very bitter taste in my mouth from it. My living situation got unbearable and I had to leave, somehow I ended up in MI.

 

I saw a documentary about what happened in '08 with the economy, it was by Michael Moore, and it really was amazing the facts he dug up! One thing I remember clearly was something called "the dead peasants policy." I vaguely recalled hearing about it before, but he refreshed my memory and interviewed a family it affected. Companies like walmart use it, some were forced to quit doing it, at&t I think maybe did it, too; there was a long list of companies using this tactic. It's despicable and horrifying to know about. All these companies have WAY TOO MUCH POWER.

Sb

[MORE COWBELL]

they will not leave that loophole open for very long.... guarantee some lobbyist is drafting up legislation to prevent banks from being seized foreclosed upon...even as i type

[Kingdiamond]

We have had a bank of America credit card for years and never missed a payment last year they doubled our minimum payment saying they had the discretion to do so due to all the others who defaulted on their card .