I have heard of banks making mistakes or it may the attorney, but in these crazy time here is another issue you should be aware of. Thanks to Stacey - Ann for writing this.
I read an article today about a couple in Florida who was accidentally foreclosed on by Bank of America even though they paid cash for their home. I am horrified to think that there are people out there who have to endure the embarrasment and loss of a foreclosure when it isn't even justified. You would think that there would be enough checks and balances in place to prevent this from happening.
In 2 minutes this morning, I was able to find 3 cases where Bank of America mistakenly foreclosed on people who had no relationship with them:
- Couple in Florida who paid cash for their home - lost personal items and had damage to their pipes.
- Couple in Texas who owned their home free and clear - caused them to lose food and caused mold buildup
- Man in Kentucky - it was one of his neighbor's homes that was supposed to be repossessed
Makes you wonder how many more cases there are out there with different banks across the country.
This is just a disgrace!
Donations made to charity with every successful closing!
Dr. Stacey-Ann Baugh
EOP Real Estate, LLC
www.staceybaugh.com
staceyannbaugh@gmail.com
240-481-3565 (C)
202-789-2848(O)
FINALLY! A DOCTOR WHO MAKES HOUSE-CALLS!
Thanks for the reblog
It must be easy in those states for banks to foreclose. It can be quite a lengthy and complicated process here.
Stacey, Thanks for allowing us to reblog.
Jim, Although now a days it takes longer to foreclose due to the number of foreclosures, in a regular market it can take 45 days from letter of notice to sale on the court house steps. I have actually seen it done.