The Latest Bank of America Screw-Up: This Time There Wasn't Even a Mortgage on the Property!
Sadly, I’m starting to sound like a broken record when writing posts about Bank of America. It appears they have, once again, foreclosed on the wrong house.
Bank of America Strikes Again
According to a South Coast Today article (see Couple claims Bank of America seized the wrong house), homeowners Charlie and Maria Cardoso filed a lawsuit against Bank of America/Countrywide for foreclosing on their home. Now, you may think that this was just another mistake due to some sort of miscommunication between the homeowners and the bank – but you’d be wrong. The truly frightening aspect of this particular incident is that the Cardosos NEVER had a Bank of America mortgage for this property – in fact, they don’t have ANY mortgage on the property and own it free and clear!
After the bank representatives scared off the current tenants renting the property and padlocked the home, the Cardosos finally convinced the local authorities to break the locks so they could enter their own house. What they found were missing power tools, electricity and water had been shut off, and the pipes in the house had frozen.
HOW CAN THIS HAPPEN?!
I ask myself this question EVERY time I see another story involving the words “Bank of America,” “foreclosure,” and “mistake.” It baffles any logical person and terrifies any homeowner with one of their mortgages. I can theorize all day about what may have happened: Had the bank’s legal team made an address typo somewhere? Had the bank’s enlisted agent for the property verified the address with the bank with tax records and photos? And on, and on, and on…
Whatever the cause, the problem is that it HAS happened and WILL happen again. As a Realtor who does work for banks from time to time, I have seen incorrect paperwork sent to me that is only discovered when I go to verify the information. There have been a few times where, had I assumed the paperwork from the bank was correct, I would have evicted the wrong homeowners.
If you are facing possible foreclosure, contact me to discuss possible selling options and the current market value of your home!
Jonathan Benya
Realtor
Century 21 New Millennium
9405-A Chesapeake Street 301-609-9000 Office
La Plata, Maryland 20646 301-653-8116 Mobile
Unbelievable! Do banks really have no clue as to which deeds they actually own on houses? I can’t believe that they tried to kick a couple out of a house that wasn’t even one they’d issued a loan on…