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Bank of America Gets Foreclosed

Bank of America Gets Foreclosed

Bank of America has little patience for homeowners who have fallen on hard times and behind on their mortgages.  The lending giant is in the midst of foreclosure battles in every state as well as defending against allegations that they engaged in fraud and misrepresentation during the foreclosure process. 

Given all the increased scrutiny you would think the bank would be extra diligent before pursuing homeowners in court.  Think again.

First the mega-bank wrongfully foreclosed on a couple who had paid cash for their house (and thus not only did not have a mortgage with Bank of America but owned title to their property free and clear).  Then, when the couple fought the mistaken foreclosure, Bank of America refused to back down, insisting they owned the home. 

When Bank of America lost the foreclosure action they were ordered to pay the couple’s attorney and court fees, since it was Bank of America’s error that brought the action in the first place.

Instead of paying those fees promptly, Bank of America let the bill sit for over five months.  Tired of banks getting away with actions that can throw an average citizen in jail these days, the couple and their attorney had a stroke of genius.  They foreclosed upon the bank.

The action got the attention of the bank.  After an hour of being locked out by bailiffs while their furniture, computers, and cash in the till was seized, the branch manager was able to get the couple and their attorney a check for the fees owed.

The actions of Bank of America says everything about the attitude permeating lending institutions in this country.  They abuse customers and non-customers without so much as a second thought and ignore the rule of law at will.  And while the “little guy” turned the tables here, you have to wonder just how many more stories like this are out there, only the homeowners were too scared, confused or just plain beat down to fight back.

 

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photo courtesy of respres via Flickr

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73 comments

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6:31AM PDT on Mar 17, 2012

Boycott the ba-----ds!!

2:20AM PST on Jan 10, 2012

B.O.A. & Citi and G/Sakes belong in hell belong govt run.

5:44AM PST on Jan 9, 2012

Hip, Hip Horray! Finally somebody had the guts to show a bank they can't get away without robbery. If I bank with BOA my money would be moved already I don't care if it is $30. BOA would not have it.

2:35AM PST on Jan 9, 2012

Thanks.

6:54PM PST on Jan 8, 2012

incredible!
where are the regulators?

12:47PM PST on Nov 27, 2011

This should be happening everyday all over America. I wish Americans would stand up for justice and act

12:00PM PDT on Oct 21, 2011

Congratulations to anyone, who took a civic stand, and divested their funds from the Bank Of America! This is the only language such monstrous banks understand....

4:14PM PDT on Oct 11, 2011

I couldn't hate banks more. This story is inspiring! I love it!

4:44PM PDT on Aug 21, 2011

LOve tat they are being called to explain.

10:51AM PDT on Jun 14, 2011

I absolutely LOVE this story and it sure serves BofA right! It couldn't have happened to a 'nicer' bank.

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