6-8 Homeowners foreclose on Bank of America

I heard about this on the weekend from the guy I sat next too as we car pooled up too the Republic of Florida meeting 4 hours north. I have been to Naples quite a few times. Naples is only 1 hour south of us.

Wednesday, June 08, 2011
by: Neev M. Arnell
(NaturalNews) In a role reversal that would bring satisfaction to many a struggling American, a foreclosed couple foreclosed on a Bank of America branch last week.

Warren and Maureen Nyerges, of the Naples, Fla. area, bought a home with cash in 2009, yet in 2010 Bank of America tried to foreclose on them. It eventually took a court intervention to remedy the situation. (http://www.npr.org/blogs/thetwo-way...)

In December 2010, a judge said that the bank wrongfully tried to foreclose on the Nyerges home (http://www.digtriad.com/news/waterc...) and ordered the bank to pay the couple $2,500 for the attorney fees resulting from the mess. But months later, the bank still had not paid up.

The Nyerges hired a lawyer, who pursued a levy, and Friday, June 3, it all came to a head. The lawyer came to the local Bank of America branch with the sheriff, the media and a moving truck.

"I'm either leaving the building with a whole bunch of furniture, or a check or cash or something," the attorney, Todd Allen, said.

Sheriff's deputies entered the branch shortly after 9 a.m., and presented the bank manager with a court writ and the choice familiar to so many former homeowners in America: Pay the money or prepare to lose possessions.

Allen ordered the deputies to take photocopiers, desks, computers and whatever cash was in the drawer to settle the debt. The bank manager on duty was "visibly shaken" he said.

"Having two sheriff's deputies sitting across your desk and a lawyer standing up behind them demanding whatever assets are in the bank can be intimidating, but so is having your home foreclosed on, when it wasn't right," Allen said. "They've ignored our calls, ignored our letters, legally this is the next step to get my clients compensated."

The Nyerges submitted multiple pleas for the money owed directly to the bank many times.

"I talked to branch managers, I called anyone who would listen to me," the couple said. "And I wrote a certified letter to the president (of the bank). No response, nothing."

After about an hour of being locked out of the bank, the bank manager relented and handed Allen a check for the legal fees.

"As a foreclosure defense attorney this is sweet justice" Allen said, because this situation is just a symptom of a larger problem.

Sources for this article include:
http://www.npr.org/blogs/thetwo-way...
http://www.digtriad.com/news/waterc...
http://moneyland.time.com/2011/06/0...

Learn more: http://www.naturalnews.com/032642_Bank_of_America_foreclosure.html#ixzz1Oj5AUVcE
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Nationwide Foreclosure Moratorium | Bank of America (and soon others) Halt ALL Foreclosures

Thanks to my Angel for this

Nationwide Foreclosure Moratorium | Bank of America (and soon others) Halt ALL Foreclosures

Submitted by Tim Harris on October 8, 2010 – 11:48 am8 Comments | Popularity: 7% [?]

Breaking News: Bank of America has halted foreclosures in all 50 states…..(you can bet all lenders/ servicers will soon follow).

By this time next week expect there to be a nationwide foreclosure moratorium. That moratorium will last…best guess...a few weeks.

Long time HREU students will remember there have been foreclosure moratoriums implemented now and then since the bubble popped.

Now what, what does this mean to you?

Honestly, not much.

Fact is that these homes have to be sold. The FHA (in a PR today) said the average ‘owner’ is staying in their home payment free for 18 months before actually having to move because of the foreclosure sale. So, with this robo-signers mess its realistic to assume that most non-paying homeowners will be able to stay in their homes for an added few months.

From an agent’s perspective this moratorium gives you more potential SHORT SALE opportunities.

For example, contact the owners who haven’t made a payment in…15-18 months (ForeclosureRadar.com) and offer your services as a ASD Agent (Accredited Short Sale Designation). There are literally millions of owners who are in this position. Amherst Securities reported this week that 20% of ALL Americans will lose their home. Realtors, the bottom line is..there are people in your community that need your help…go help them. Today.

If your primary focus is REOs what does this moratorium mean to you? Obviously fewer listings being assigned over the next few months. Use this time to engage owners who need to do short sales (remember students, spokes. A smart agent has multiple sources of leads. Don’t just be a one spoke wonder!). Making money from BPOs. As we have been advocating for years (pleading?) every agent must be doing BPOs. The consistent income from doing BPOs will allow you to have the financial peace of mind that only comes from consistent effort. Listen to the 90 minute BPO training and how to list REOs teleconference now.

HREU students and future students. See this whole robo-signer…foreclosure moratorium drama for what it really is. A temporary bump in the road. Don’t over react to this (largely political) story.

Here is a CNBC video:

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8-5 All Mortgages are Fraudulent - Former owners will have recourse to sue for fraudulent foreclosures.

Submitted by B. - Thanks

8/5/2010
California-Qui-Tam-False-Claims-Recording-Fees1.pdf

California is following in the footsteps of Tennessee!!!!!

All Mortgages are Fraudulent - Former owners will have recourse to sue for fraudulent foreclosures. Spread this far & wide! The whole industry could collapse completely!!!!!!!!!!
Due to the recent ruling by the Sups, MERS is not the title holder (real party in interest) of any property and never was. ALL mortgages past and present are therefore fraudulent! This has devastating repercussions for all of the loan industry, not just MERS, because there is no longer a chain of title. People who have, or have had mortgages or are being foreclosed on, or have been foreclosed on, now have an out. These people are now able to win in court and having their mortgages settled and the people are keeping their houses, for the fear of the banks losing far more in class action suits!

Now California is getting in on the action and suing MERS for filing false recordings with the county recorders in every county in the state, since MERS started filings over 10 years ago! At a fine of 5-10K a pop, this stands to create millions and possibly billions of dollars in penalties against MERS which will effectively bankrupt the fraudulent mortgage industry. This could mean that anyone with a mortgage will have it immediately settled and the current owners get the title free and clear no matter what balance they owe because fraud has no statute of limitations. Former owners will have recourse to sue for fraudulent foreclosers. The resulting litigations will have the banks on their knees in no time flat. The whole industry could collapse completely. Only time will tell. Lets just see what happens.

http://www.restoreamericaplan.net/rap-net-news/
Posted by John MacHaffie at 5:13 PM 0 comments
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