homeowner foreclosed on bank

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.

http://www.digtriad.com/news/watercoole ... Of-America

neptunechimney wrote: 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.

http://www.digtriad.com/news/watercoole ... Of-America

Oh......I like that!

archer wrote:

neptunechimney wrote: 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.

http://www.digtriad.com/news/watercoole ... Of-America

Oh......I like that!

Me too, but it is scary. Since 1982 my wife and I have owned 6 homes with who knows how many refi's. We have had trouble in the past proving that a paid off loan was indeed payed off. We always did but the banks knew there records were hosed and in each case were cooperative.

It has me wondering what paperwork I could need in court if a stupid or greedy bank came after my home.

neptunechimney wrote:

archer wrote:

neptunechimney wrote: 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.

http://www.digtriad.com/news/watercoole ... Of-America

Oh......I like that!

Me too, but it is scary. Since 1982 my wife and I have owned 6 homes with who knows how many refi's. We have had trouble in the past proving that a paid off loan was indeed payed off. We always did but the banks knew there records were hosed and in each case were cooperative.

It has me wondering what paperwork I could need in court if a stupid or greedy bank came after my home.

You're not paranoid if indeed someone may be out to get you. Like you, between the two of us we have a lot of homes behind us, our current home is paid off, and I THINK I have kept everything we need to prove it, but how awful to have to go to court to prove you don't have a mortgage.

That is so cool! Thanks for sharing it - it made my morning!

The Banks got a trillion dollars with no strings attached over a weekend, and Obama had to haggle for 10 months in order to get us 900 million over 10 years for our healthcare. Wake up guys, thanks to republicans the Banks are running the country. They control the money, the courts...Everything so although my house is completley paid off- with the way things are now I still think I could lose it to a bank.

Reimpose the Glass–Steagall Act, and the problem goes away...

You think its just the Republicans VL? Who's Obama's treasury Secretary? Republicans are just more open about it.

LadyJazzer wrote: Reimpose the Glass–Steagall Act, and the problem goes away...

Yes. The repeal of provisions of the Glass–Steagall Act was a very big contributor to the failed banks and the recession.

LOL! Finally they got theirs! Hope they felt like the people they foreclosed on! There are several ways to save your home! Quick rundown on ways that are working:
1. Federal Court takes long time and a REAL THICK SKIN. Lot's of money and could cost you your business, and all your money. But will pay off in about 3 years of crap.
2. County Court : (a.) Liability law suit against the bank, and with a good lawyer. (b.) Quite Title Law suit against all parties connected to the property. b. should be done also in the Federal court.

Other ways are default the bank and get a discovery.

You will need in all 3 events either a Securization Audit
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and a step better is the Bloomberg Audit on your it's an audit on the money that has been securitized. They take the note and they put it into a security. The Bloomberg audit is REALLY precise and the one I seen was about 300 pages it also involves the banks, federal reserve and the securitization of the note and the separation of the note from the deed. This audit is not well known and costs right around 1300.00 where a securitization audit only runs about 800.00. Depending on how driven you are to really hang the banks will depend on what you get. Some lawyers feel the Bloomberg is really more information than they really need to prove their case and stop the foreclosure.

The Quite title will also open up an discovery on who owns the note and all parties are to be present when presenting this kind of lawsuit. There are ways to really down right just own the home and the mortgage some times is just not found. With in the next 6 months there will be a group here to teach lawyers the Quite title process and how to win. This is just a general rundown of different ways to save your home.

one other part of the puzzle is the regulations the banks must follow under Regulation Z. That pretty much hangs them with the audits. Fight fire with fire.

All are handled by the courts.