In great reversal, Bank of America foreclosed upon

Now this is irony.  I read this article, and I just had to share it.  A homeowner has foreclosed on Bank of America.  Yes, that’s right.  They foreclosed on the bank, not the other way around.

So here’s what happened.  A couple in Naples, Florida bought a home with cash (no mortgage) in 2009.  In 2010, Bank of America began foreclosure proceedings against them.  This was Bank of America’s mistake, of course.  This couple, the Nyerges, hired an attorney to help defend them against this foreclosure, and then Bank of America realized their mistake and dropped it.

Well, it’s great that it’s been dropped, but the Nyerges are out $2,534 in legal fees.  So they’ve requested that Bank of America cover the cost multiple times over the phone and in writing.  They finally get a judge to order that Bank of America pay the fees.  When they still haven’t gotten their check after five months of more calls and letters, they obtained an order of foreclosure against the bank.

Their attorney “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  fees and additional costs.”

 ”I talked to branch managers, I called anyone who would listen to me,” the couple told the Naples News. “And I wrote a certified letter to the president (of the bank). No response, nothing.”

Can you imagine what the bankers thought when they showed up to work that morning?  I think this is great.  The banks are so quick to foreclose on properties, yet when it comes to them paying a fee (a very small fee comparatively) for something they didn’t pay, it ends up that they can’t do it.   So I can only imagine how many foreclosures that are taking place behind the scenes are incorrect because of paperwork errors.  

Reading this article just puts a smile on my face.  I’m glad that it turned out for the best for everybody in this situation, but it’s fun to see the bank get a taste of its own medicine.

What do you think?  I’d love to hear your comments.  Please be sure to visit me online.

 

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