Tag Archives: Bank of America

Scum of the Week – Bank of America

In a time when homes are being foreclosed on left and right, and the big bad banks are taking advantage of people all over the place, it’s nice to finally see some irony launched their way. Bank of America wrongly tried to foreclose on a couple’s home in Florida, that they paid for in full, so the couple retaliated by… foreclosing on the bank itself. Check it out Yahoo! here:

In a modern-day evocation of David’s slingshot triumph over Goliath, a couple of foreclosed homeowners in Naples, Florida reportedly foreclosed on a Bank of America branch last week, their attorney actually having moving trucks pull up in front of a Naples branch to execute a foreclosure judgment against the bank.

What must have seemed to observers like a scene out of a parallel universe – you can see some video here – was actually the fair and logical conclusion to a situation which, the court had ruled, had an unfair and illogical start. In 2009, retired police officer Warren Nyerges and his wife, Maureen Collier, paid $165,000 cash for their 2,700 square foot home in the Golden Gate Estates subdivision, and never took a mortgage out on it. So imagine their surprise when, in Februrary of 2010, Bank of America initiated foreclosure proceedings against them. The Nyerges hired an attorney, Todd Allen, to defend them against the wrongful foreclosure, and the Bank eventually abandoned the matter.

But not before the Nyerges incurred $2,534 in attorney’s fees, which they requested informally from Bank of America multiple times before resorting to the courts, which ordered the bank to make the couple whole. When B of A still had not paid the judgment after five months of phone calls and letter writing by Allen and the Nyerges to the bank insisting that the court order be obeyed, Allen took the next step in the legal collection process, obtaining an order of foreclosure against the bank.

Now, I know that the banks aren’t necessarily evil but don’t expect me to take pity on them. They’re doing just fine. I guess they shouldn’t have taken so long to get these people their money back. Seriously? A five month delay in giving the money back? If only the banks were so forgiving. I’m sure this will create a precedent for banks in the future to make sure they have their shit together, or the scum sucking money lovers can get in line to be foreclosed on just like Bank of America!