Bank Of America Forecloses On A House With No MORTGAGE!

By
Real Estate Agent with The Gasset Group & Get It Done For Me Virtual Services 13253167-SA00

Just when you thought you have heard them all! This one really had me wondering again, what planet are these lenders from? We should have a contest for the lender who does the most stupidest thing and award them a huge booby prize! fort lauderdale foreclosure story


John Grodensky bought his new home in Fort Lauderdale Florida in December of last year. He paid all cash for the property. He did not get a mortgage. Bank of America approved a short sale with the previous owner and accepted and received wired funds at the closing. The sale was also recorded in the Broward County clerk records. 

Boy was he surprised to find out this past July that the title to his home had been turned over to a government backed lender. He was scared to death to find out he had lost his home in a foreclosure that he never even knew about. 

The foreclosure case had continued in the courts and in July the foreclosure sale took place and the recording office transferred the title to Fannie Mae. 

And what about the culpability of the attorney involved in this blatant illegal foreclosure? Attorneys are being investigated in different cases. The banks are not communicating with their attorneys and the attorneys are not communicating with the courts. It is a mess. 

Bank of America has conceded to the mistake and said they will fix this problem with their own money so that John does not have to pay for the cost of their error. 

The biggest problem is that when a mistake like this happens and this is certainly not the first of these to happen, it is very expensive, time intensive and complicated to undo a foreclosure. 

When John found out that his house was no longer his house even though he paid for it, Bank of America did not return his calls, did not help him with his situation. Of course, they did not help until the news got hold of the case. Also, the foreclosure attorneys, the Florida Default Law Group also did not answer his questions. 

So if John had NOT gone to the Sun Sentinel would his pleas for help still be unanswered? 

Bank of America stated that this was an error in communication between them and the default attorneys at the law firm. But that does not help John that much at this point. 


If you are considering the option of short selling your Florida home in Palm Beach County, Broward County, St Lucie County, Martin County or Miami/Dade County- call us today at 561-753-0135 for a confidential intake evaluation in order to estimate the possible outcomes of your short sale. 







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Copyright © By Katerina Gasset 2010*Bank Of America Forecloses On A House With NO MORTGAGE!*

 


 

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In real estate we service Utah County, Salt Lake County, Wasatch County, Tooele County. This includes many towns and cities. Some of which are: Provo, Orem, Salt Lake City, Draper, Springville, Spanish Fork, Payson, Lehi, American Fork, Vineyard, Saratoga Springs, Eagle Mountain, Pleasant Grove, and more. 

Katerina Gasset is a real estate agent who is also a digital marketing strategist, website designer and consultant for real estate brokerages, agents, entrepreneurs and small business owners. She is also the owner of Get It Done For Me Virtual Services. 

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Comments (137)

Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Didn't they have title insurance?

Sep 24, 2010 09:21 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Florida's record number of foreclosure cases is causing a lot of confusion in the courts. I know they are under pressure to get these cases through the system but they are messing with people's lives and really just need to slow down. Check, double check and get it right. Of course just due to the shere voluum of foreclosures mistakes are going to happen.

Sep 24, 2010 09:27 AM
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

Hmmm - At this point why don't the banks just foreclose on all residential and commericial property in the contenental US?  They already own the country anyway - so its only a matter of time.

Sep 24, 2010 09:54 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Ruthmarie- I actually think that may be the plan, scary thoughts i have:) 

Sep 24, 2010 10:08 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Carla- Have you ever had to make a title insurance claim? It is a real long process and very tedious. Yes, he has title insurance. But the title insurance company still has to have Bank of America take care of the problem to get Fannie Mae to give up the title they do not rightly own. We are a DEED STATE. That means that Fannie Mae is in possession of the deed. Possession is 9/10th of the law. The deed can only be taken back through the court action of undoing the foreclosure. We are a judicial state, which is good for us as private property owners because no creditor except the IRS or the mortgage company, the state taxing authority, HOA or mechanics liens can foreclose on a property here. No other creditors can take away your homestead here. That is why so many retired people and wealthy people move to Florida. Asset protection is a very wonderful reason to move here:) Katerina

Sep 24, 2010 10:12 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Seems very odd that the bank would not talk to him, but this happens with these big institutions.

Sep 24, 2010 10:26 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Neal- I agree with you. The law firm is horrible. They hire new grads right out of school and then pay them 35K a year to work in their foreclosure mills. If agents did that, their licenses would get yanked. Katerina

Sep 24, 2010 10:37 AM
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

That's amazing! What are the stats of wrongly imprisoned people vs the injustices of what the banks are doing to people? I hope they slow down and put a process in that checks and re-checks what they're doing.

Sep 24, 2010 12:15 PM
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

Wow... there IS an entity more screwed up than the government...  Of course, they government was involved, too, so that lessens my shock. 

Sep 24, 2010 03:58 PM
Melissa McKinney
Everything Pines Partners Fayetteville - Fayetteville, NC
Realtor, www.LivingFayetteville.com

It is amazing to me how things like this happen. The lack of communication is unacceptable, Wow!

Sep 24, 2010 04:08 PM
Gordon Baker
Re/Max Alliance Group - Gilbert, AZ
GRI, CDPE

A new action item for the checklist when you buy a short sale... "Check the title every 3 months for a couple of year."

Sep 24, 2010 06:00 PM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Thanks Katrina.  Sorry, I didn't mean for this to go off-topic.  Here we have statutary warranty deed, with seller conveying marketable title.  It's still an amazing story, and glad they went to the media.

Sep 24, 2010 06:09 PM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Eric- I don't know the stats but I do know more people in prison for crimes they did not commit than who I know this has happened to. Not to go off topic, but my very best friend has a son we all know very well in jail for the past 3 years with no charges being brought against him, he is innocent of the crime they arrested him for- it is a long sad story, and my friends have money so it was not like some poor person without a good attorney. It was a hack job by a DA who wanted to make a name for himself and in the process ruined this young man's future. Sorry, you brought up something close to my heart. Katerina

Sep 24, 2010 06:33 PM
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

UPI (United Press International) picked up the story http://www.upi.com/Odd_News/2010/09/23/House-with-no-mortgage-foreclosed/UPI-98131285262720/

Sep 25, 2010 03:20 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Gail- Thanks for letting us know. 

Sep 25, 2010 05:10 AM
Coral Gundlach
Compass - Arlington, VA
Real Lives. Not Just Real Estate.

The evil stories coming from this bank seem to have no limits.   This is terrifying.  No one is safe from their massive incompetence.

Sep 25, 2010 06:51 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

katerina, believe it or not, tomorrow I am going to the court to witness a foreclosure auction on a property that has no mortgage on. Bank of America , of course.

I will write about this error in communication

Sep 26, 2010 05:00 PM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Jon- Let me know when you write the post. Katerina

Sep 27, 2010 04:28 AM
Brigita McKelvie, Associate Broker
Cindy Stys Equestrian and Country Properties, Ltd. - Lehigh Valley, PA
The Broker with horse sense and no horsing around

Katerina,

I just found out my son is having a problem with Wells Fargo foreclosing on his home.  It turns out it is the bank's fault and my son is trying to correct it.  Not only is his home being foreclosed on, his credit rating is ruined, too.  It's a long story as to what happened, but he has been in contact with the bank about their error, they keep telling him no problem, but they turn around and start foreclosure proceedings.

Brigita

Sep 27, 2010 10:15 AM
Tammy Hayes
RE/MAX Palm Realty - Port Charlotte, FL

Anymore I think anything can happen in the sale of a home.  Expect the unexpected.  It happens!

Sep 28, 2010 08:15 AM