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They pleaded with Bank of America to not foreclose on their home "Nothing Can be Done"

Reblogger Wallace S. Gibson, CPM
Property Manager with Gibson Management Group, Ltd.

 

This needs to get out and be exposed for the HORRIBLE abuse of a process that is prone to abuse on so many levels!!

 

Original content by Steve Albin

Charlie and Maria Cardoso pleaded with Bank of America to not foreclose on their home in Florida, but the bank said there was nothing that could be done.  So, the bank foreclosed on the property, forced out the tenants, stripped the house, and changed the locks.

There was just one small, little, tiny, almost insignificant problem… the Cardosa’s owned the home free and clear.  Bank of America had no mortgage on the home.  They meant to foreclose on a home down the street… the numbers on a court document were wrong.  But they went ahead and did it anyway, even after repeatedly being told by the Charlie and Maria Cardosa that they were wrong and that they had no right to throw out their tenants and take their belongings.

Full Story: 

http://mandelman.ml-implode.com/2010/01/bank-of-america-forecloses-on-florida-home-big-deal-oops-wrong-house/

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Wallace S. Gibson is a Certified Property Manager with over 50 years of property management experience and expertise.  She maintains a specialized property management business in Central Virginia serving Albemarle, Greene, Fluvanna and Louisa counties  

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Comments(9)

Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

Smells of a lawsuit, don't you think?  What the heck?  I never heard of such a story.  Remember Bank of Awful.

Jan 29, 2010 10:17 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I agree - there is a lawsuit here and loads of blame with the bank down to court clerks!!!

Jan 29, 2010 10:27 PM
Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

 Lawsuit material.

Jan 29, 2010 10:27 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Bad PR AND several lawsuits!!!

Jan 29, 2010 10:30 PM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Wallace,

You know I never want to be sued or have never sued anyone.  I would be willing to do it in this instance.  That's unbelievable and absolutely ridiculous.  Any bank that doesn't realize paperwork numbers can be wrong is nuts.  After receiving countless contacts from the owners and still doing it, I hope they pay a huge number to the owners and tenants. 

All the best, Michelle

Jan 29, 2010 11:47 PM
Broker Nick
South Florida Real Estate & Development, Inc. - Coconut Creek, FL
Broker Nick Relocation Broker Service

Wallace - There is a lawsuit - but the couple should have had an attorney to stop the foreclosure proceeding - I recommend this to all my short sale clients - but this is a different case - but an attorney would have petitioned the court to stop this before it got out of hand -

Jan 30, 2010 12:27 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Nic * I agree; however, I think they think that the court would protect them which is NOT their function.

Jan 30, 2010 12:37 AM
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and

Oh, oh.  B of A is in a world-of-trouble.  We've had similar situations locally.  In particular, I recall one incident where the City of Detroit mistakenly demolished the WRONG commercial building which was being "re-habed" for a loft-conversion.  That little mistake cost the City more than $1 Million dollars.  Oops.

Jan 30, 2010 01:49 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

BoA can use their TARP funds to pay the "award" to these HOMEOWNERS!!

Jan 30, 2010 01:56 AM