The Nyergers Florida home was foreclosed on by Bank of America. The Nyergers paid cash for their house, and had never had a mortgage on it with Bank of America or anyone else. The Nyergers had to hire an attorney and show up in court. They proved they didn’t owe BOA a penny, so the judge ordered the bank to pay the Nyergers’ legal fees. That should have been the end of the story, but no, the bank didn’t pay, and so the Nyergers foreclosed on BOA.
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.
Sheriff’s deputies, movers, and the Nyergers’ attorney went to the bank and foreclosed on it. The attorney gave instructions to to remove desks, computers, copiers, filing cabinets and any cash in the teller’s drawers.
After about an hour of being locked out of the bank, the bank manager handed the attorney a check for the legal fees.
Allen [Nyergers’ attorney] then reported to a local branch of the bank with sheriff’s deputies, who he instructed to remove cash from the tellers’ drawers, furniture, computers and other property. Approximately one hour later, the Naples News reports, the bank manager produced a check for $5,772.88 to satisfy Allen’s fees and additional costs.
Yahoo writer, Tara-Nicholle Nelson notices:
…these excuses also doesn’t stand up to snuff: I’ve pointed out before that in transactions with far less monetary significance than foreclosure (and far greater frequency), banks get it right, almost every single time. Just think: when was the last time you got an extra $20 bill at the ATM? I’ve never yet met someone who could remember such a time.
The Florida attorney general’s economic crimes division is investigating three law firms, including Stern’s, over allegations that they created fraudulent legal documents, gouged homeowners with inflated fees, steered business to companies they owned and filed foreclosures without proving the bank actually had legal interest in the loans.
Florida Couple Forecloses on Collier County, Florida Bank of America (video)