Posted by desktopfull on 6/4/11 10:48pm
Msg #385196

This is great, homeowners forecloses on bank.

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.

CBS News

Reply by GOLDGIRL/CA on 6/5/11 12:34am
Msg #385197

Great story! Reminds me of Msg# 373218 about the guy who foreclosed on Wells Fargo...

Reply by JanetK_CA on 6/5/11 3:55am
Msg #385198

Gotta love it!!! :>) n/m

Reply by Susan Fischer on 6/5/11 7:51am
Msg #385199

Now, that's a great way to greet the day! First WF, now

BOA.

Thanks for the good news.

Reply by Jacqueline Quaresimo on 6/5/11 9:56am
Msg #385204

Awe. Sweet revenge. You gotta love it! Good for the homeowners.

Reply by HrdwrkrVA on 6/5/11 3:53pm
Msg #385228

I fought the law & the law won- oops- not this time! :-) n/m

Reply by GOLDGIRL/CA on 6/5/11 4:43pm
Msg #385236

Upon further reflection .....

I'm curious how this whole foreclosure thing works in these two great stories. As far as I know, foreclosure means a note and deed of trust are in the picture. Yet these two people foreclosed on banks for nonpayment of court-ordered costs. By extension, could that mean if we won a small claims suit against a nonpaying SS/TC/whatever and they still didn't pay (which they often don't), can we "foreclose" on them ? Hee hee. Assuming they're still in business, of course, and we can find them.

Maybe His Hughness could weigh in on this (as soon as he's through stiffing his whippersnapper waitperson, that is ....)

Reply by HisHughness on 6/5/11 4:57pm
Msg #385237

Re: Upon further reflection .....

This is not a foreclosure, though it makes a much better story to call it such.

It is a levy. The litigants have a court judgment awarding them damages. The defendants have failed to pay. The sheriff or constable is then called and asked to levy on the personal property, which can be seized and sold at auction.

If there is no personal property, then I see no reason that a levy could not proceed against real property, but that's not what is happening here.

It's still a wonderful comeuppance for the sorryassed bank, though.

Reply by GOLDGIRL/CA on 6/5/11 8:23pm
Msg #385253

Re: Upon further reflection .....

So this is more a seizure of assets, then. Something to think about, when, if you ever wanted to go after a SS in which your claim has been upheld but they still don't pay. Of course, you'd have to get the sheriff or whoever to cooperate and I don't hear much about that ever happening. Still, would be nice to padlock the doors of SOX or R&R Group, say .....

Reply by Susan Fischer on 6/5/11 9:34pm
Msg #385256

While nothing's easy, it is a frequent remedy. When it

finally happens, it's such a feeling - like a well-placed stone from our legal slingshot.

Reply by desktopfull on 6/5/11 8:07pm
Msg #385250

Re: Upon further reflection .....

BOA foreclosed on their home and the homeowners paid cash for the home and never had a mortgage. The judge in the foreclosure order BOA to pay the homeowners legal fees and costs, etc. BOA didn't and the homeowner's went after the bank.