Sweet Justice

[JoLin]

http://www.opposingviews.com/i/soci...ite-their-repeated-attempts-get-it-bank?Fb=ns

Got a chuckle out of this. I own a condo in FL that I mortgaged through B of A, and they've been a royal PITA. I finally paid it off 8 years early by using my (primary NY residence) equity line of credit to finally get them out of my life.

 

[redneck joe]

Sweet.....

 

[jbcurt00]

After we left Las Vegas, I still had a BoA acct but no access to a branch in WV. Several years later I got a letter in the mail regarding a class action suit on behalf of checking acct holders between the years 19xx and 20xx.

I could opt in or opt out, and I dont recall which I choose, and didnt give it much further thought. About a year later, I got a check from BoA.

Apparently, reimbursement for improperly charged fees....

It was only about $100, but I certainly did enjoy cashing it :becky:

Good thinking by the couples attorney. Very creative and probably very few would have thought to go that route.

 

[GA_Boater]

What a kick in the pants to pay cash for a home and get foreclosed on by a bank! Did anyone take the the poll? The 3% must be bankers. LOL

 

[bassman284]

What a kick in the pants to pay cash for a home and get foreclosed on by a bank! Did anyone take the the poll? The 3% must be bankers. LOL

I'm no BoA defender but I have a problem here. How do you get foreclosed on if there is NO mortgage? If you pay cash for a home, there is no mortgage and there is no mortgage banker. There is really no reason a mortgage banker would even know you exist. Or care. Mortgages only exist if buyers don't have enough money to pay cash and thus have to borrow money (mortgage) to buy a property.

The only way BoA or any other bank can foreclose on you is if you borrowed money from them and put up property (or something) as collateral. In that case you are in default and they are legally good to foreclose. In other words, the bank needs to have a financial interest in the property in order to foreclose. In YET other words, the story in the OP makes absolutely no sense at all.

Ah well, I could go on for a long time here but the OP makes no sense whatsoever. I know Bnk of America is considered one of the ultimate evils on earth but, as far as I know, they have no standing to foreclose on properties unless they hold a financial interest. Anyone who can correct me on this should feel free to jump in.

 

[jbcurt00]

The bank ATTEMPTED to foreclose on the property, in error, because you are correct, no loan, no mortgage to foreclose on......

Property was owned by BoA when they bought it, so someone somewhere mixed up the paperwork.

Happened all the time during the worst of the foreclosure mess in Las Vegas. Took FOREVER to get a response to a short sale or bank owned property buy offer. Some took so long to hear back about a short sale offer, that the property had been foreclosed on. Making offer null. Then clock starts over and a different division handled property and it'd take months to get it relisted as bank owned, assigned to a foreclosure asset manager at the bank, and handed over to a foreclosure specialist realtor.

We lived in our landlords condo for 10 more months after he notified us that he was losing it, before the bank notified us to move.

They gave us 2months to relocate, and I probably could have extended that 45-60 more days w little effort. After we moved, it took 18mo for them to sell it. For 2500 less then we offered, nearly 2yr earlier. I tracked it and 3 other properties we made offers on.

It was crazy.