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George Matthews
(gmatthews) - MLife
Bank of America Gets Pad Locked After Homeowner Forecloses On It on 06/08/2011 19:00:35 MDT Print View

http://www.digtriad.com/news/watercooler/article/178031/176/Florida-Homeowne

Bank of America Gets Pad Locked After Homeowner Forecloses On It

...

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.

...

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.

Greg Mihalik
(greg23) - M

Locale: Colorado
Re: Bank of America Gets Pad Locked After Homeowner Forecloses On It on 06/08/2011 19:17:01 MDT Print View

The real message in this story is the 1974 law that states lending institutions have to play by certain rules when it comes to foreclosing on a home.

If it does not explain things in writing, in a timely manner, the homeowner has recourse.

Anyone in a foreclosure situation needs to pursue the "due process" details of this article.

Edited by greg23 on 06/08/2011 19:23:19 MDT.