Saturday, June 4, 2011

Follow up on a fraudulent company

I wrote last year about leaving Bank of America (the article was posted in March of this year). Some have asked me what bad things has BOA done to others. So here's a quick compilation:

BOA 'forecloses' on a home where the owner never even had a mortgage!
From this story:
"It all 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."
...

"After more than 5 months, 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 out calls, ignored out 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 his bank branch office, the bank manager handed the attorney a check from the bank for the legal fees."


A year prior, BOA did the same thing
From this story:
"But as usual, the no holds barred winner in the irresponsible bank tricks department is BofA (BAC).
...
BofA admitted the mistake and is fixing it at its own expense, a spokeswoman tells the paper. But you'd have to say this isn't the bank's first turn at unfunny foreclosure tricks.
...
He reached an undisclosed settlement, his attorney said. Court documents showed that Schroit wanted compensation that would be "adequate to deter BOA's arrogance.""
Seems that amount wasn't quite enough to deter BOA.


BOA tries to foreclose on another free and clear house. 
In this case, BOA claimed to want to try to fix the mistakes, but actually did nothing until the homeowner took it to the Sun Sentinel - the local newspaper!


The origin, according to BOA.
A lot of the loans in question stem from Countrywide, whom BOA purchased in a fire sale a while ago. Countrywide had some problems - and BOA paid $108 million to settle a lawsuit brought on by the government. In a statement, BOA said it wanted: "to avoid the expense and distraction associated with litigating the case" and "put all of these matters behind us."
Guess that didn't happen now, did it?


This poor woman got her bird taken away by the bank. 
Along with her home. BOA claimed she was behind on her mortgage, which she wasn't (remember my problem???). Perhaps there is some consolation in the fact that at least she actually had a mortgage, unlike a couple of the ones listed so far - so it was actually technically possible for them to foreclose on her under certain circumstances (which of course, never existed).


Speaking of not having a mortgage, it happens again here
Only this time, BOA tries to foreclose on a soldier returning from Iraq! This time, BOA claims it was an "honest mistake" - they simply foreclosed on the wrong home!


Update (6.16.2011)
BOA tries to foreclose on a man for a $0.00 balance. Seriously, you can't make this stuff up!



Summary
Since BOA cannot be trusted at all to foreclose properly on any house, I'd suggest that anyone going through foreclosure with BOA to fight it in court. Make these idiots prove that they are in the right in foreclosing on the property!

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