Sunday, June 5, 2011

Homeowner Forecloses on Bank

Yes, you read that right.  A homewoner in Collier County, Florida foreclosed on a bank branch!  Bank of America gets Padlocked after Homeowner Forecloses on It.

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.

About an hour after the sheriff locked the doors, the bank branch manager handed the attorney a check.  Nice to see at least one instance of good news for Florida homeowners in the foreclosure crisis.  Thanks to Dru Stevenson and Louie Rodriguez for the pointer.

Matt Festa

http://lawprofessors.typepad.com/land_use/2011/06/homeowner-forecloses-on-bank.html

Financial Crisis, Housing, Humorous, Mortgage Crisis, Mortgages, Real Estate Transactions | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef015432cc7b3e970c

Listed below are links to weblogs that reference Homeowner Forecloses on Bank:

Comments

I read this earlier. Talking about citizens taking action. Thanks for reposting here.

Posted by: Michael | Jun 7, 2011 8:48:49 PM

Post a comment