Bank gets foreclosed on by homeowner. - Snowboarding Forum

BurtonAvenger · 06-06-2011, 01:50 PM

Sweet revenge if I say so myself.

Bank of America Gets Pad Locked After Homeowner Forecloses On It | digtriad.com

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.

CBS News

BurtonAvenger · 06-06-2011, 02:44 PM

I was laughing at this only cause I've had a few friends lose homes up here for bullshit reasons.

dtshakuras · 06-06-2011, 04:47 PM

Yeah I just read this story over at Yahoo and it made my day. I'm not a lawyer, but if I were them, I would seriously continue with the foreclosure and not cut the deal on the spot. I'm pretty sure if the tables are turned and the sheriffs turned up to foreclose on a person's house, they would continue foreclosing even if the person had the money on the spot. I know in Texas for example, after 24hrs of advanced notice there is nothing to stop the eviction process. Thus if it was similar in Florida, the lawyer should have removed all the stuff from the bank (such as the bundles of cash). I'm sure all those cash stored in the bank is much greater than the amount owed to the couple.

schmitty34 · 06-06-2011, 04:51 PM

Quote:

Originally Posted by Snowolf

God damn this story makes my day....I fucking hate banks with a passion...we bail their sorry asses out time and time again and they fuck over the very people who, as customers, make them money...I love this story..

Not that I want this thread to spiral out of control (well maybe

) but I would be willing to guess that most people that are foreclosed on actually cause the bank to lose money. Not to say that the banks aren't at fault with this whole cluster, but just sayin....

NWBoarder · 06-06-2011, 09:25 PM

This so awesomely funny! Not even Hollywood can come up with something like this!

schmitty34 · 06-07-2011, 04:06 PM

Quote:

Originally Posted by Snowolf

Its a drop in the bucket. What kills banks and caused the banking crisis that we all got to pay for was due to simple greed on the part of the banks. They deliberately wrote risky notes, knowing that within 30 days they were going to quick turn these packages of loans to another financial institution at a huge profit. It grew out of control and banks went out looking for anyone to write a mortgage regardless of their ability to pay. It was like a game of hot potato; as long as you are not the one holding the potato when the clock stops, your are fine. Problem is, the game was played so long and the housing bubble got so ridiculously over inflated that it brought the whole system crashing down. It is the purest example of the end result of unregulated total free market predatory Capitalism. It should stand as a shining example of why there has got to always be some regulation over a free market Capitalist economy.

Greed, yes, but on the part of the banks and the consumer. It takes two to tango.

General greed within this country is what caused the banking crisis. Everyone was getting fat and happy off the real estate market and MANY never took the time to think, "what if?"

schmitty34 · 06-07-2011, 04:31 PM

Quote:

Originally Posted by Snowolf

Oh yeah, I agree that there was greed on the part of the little guy too. "hey Martha, lets buy this 5 bedroom $500,000.00 home that is waaaaaay more than we need or can afford because we can get an interest only loan!"...yeah tha`ts a good plan. My point was that I think the actual dollar amount involved was a drop in the bucket compared to the horrible "investment" choices that the banks themselves made....

Yes, the dollar amount in this situation was small, my point was that the customers that are being foreclosed on are not customers that make the banks money. The bank's are getting killed my "toxic assets" which are mostly mortgage backed securities or mortgage servicing rights that are full of foreclosed properties.

So in a way, the bank is f-ing the customer while the customer is f-ing the bank. Just a big f-ing mess really.

schmitty34 · 06-07-2011, 04:43 PM

Quote:

Originally Posted by Snowolf

I think the technical term for this is "clusterfuck"......

Yes, but I typically use the term charlie foxtrot, but I'm just trying to cut down on the cursing.

fattrav · 06-07-2011, 05:29 PM

So, can you have two different mortgages with two different banks?....

schmitty34 · 06-07-2011, 10:13 PM

Or you can just have two different mortgages for two different properties....i.e. your primary residence and a rental property or vacation home.

But you can't have two first mortgages on the same property...only the situation wolf mentioned.

Unless of course you are comitting mortgage fraud, then you are free to have as many mortgages as you'd like

really stick it to them

06-06-2011, 01:50 PM	#1 (permalink)
BurtonAvenger Veteran Member Join Date: Aug 2007 Location: Mountains Posts: 8,050	Bank gets foreclosed on by homeowner. Sweet revenge if I say so myself. Bank of America Gets Pad Locked After Homeowner Forecloses On It \| digtriad.com 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. CBS News __________________ Angry Snowboarder Because someone has to call it how they see it!

06-06-2011, 02:44 PM	#2 (permalink)
BurtonAvenger Veteran Member Join Date: Aug 2007 Location: Mountains Posts: 8,050	I was laughing at this only cause I've had a few friends lose homes up here for bullshit reasons. __________________ Angry Snowboarder Because someone has to call it how they see it!

06-07-2011, 05:29 PM	#9 (permalink)
fattrav Veteran Member Join Date: Feb 2009 Location: Queensland, Australia Posts: 1,057	So, can you have two different mortgages with two different banks?.... __________________ Never Summer SL153 & Atomic Hatchet 159 Burton CO2 Nitro Teams

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06-06-2011, 04:47 PM	#3 (permalink)
dtshakuras Member Join Date: Jun 2011 Location: Rockville, MD Posts: 80	Yeah I just read this story over at Yahoo and it made my day. I'm not a lawyer, but if I were them, I would seriously continue with the foreclosure and not cut the deal on the spot. I'm pretty sure if the tables are turned and the sheriffs turned up to foreclose on a person's house, they would continue foreclosing even if the person had the money on the spot. I know in Texas for example, after 24hrs of advanced notice there is nothing to stop the eviction process. Thus if it was similar in Florida, the lawyer should have removed all the stuff from the bank (such as the bundles of cash). I'm sure all those cash stored in the bank is much greater than the amount owed to the couple.

06-07-2011, 10:13 PM	#10 (permalink)
schmitty34 Veteran Member Join Date: Dec 2007 Location: Probably at work wasting time Posts: 869	Or you can just have two different mortgages for two different properties....i.e. your primary residence and a rental property or vacation home. But you can't have two first mortgages on the same property...only the situation wolf mentioned. Unless of course you are comitting mortgage fraud, then you are free to have as many mortgages as you'd like really stick it to them