Banks Foreclosing on Wrong Homes

[Mariahxxx]

I was watching a show last night about the foreclosure epidemic that started in 2008 and it blew me away. The report wasn't just about the foreclosures, it was about banks foreclosing on the wrong homes and ******* foreclosures and not a single one has been punished or even held accountable. it was fucking incredible how many people have had their homes taken who were never late and were victims of shitty practices by the banks. there was one near me here in Spring Hill that the owners had paid cash for the house and NEVER even had a loan on the house and Bank of America foreclosed on it!!!

CLICK HERE FOR THE ARTCLE

When Bush became President he took nearly all of the funding for the Dept of Justice to prosecute financial crimes. So these companies could lawyer up and legally over power the US government to drag out any case for years. And for all of you Obama-bashers who claim he's anti business and a socialist, his administration has prosecuted even less than Bush! Granted he stepped into office with a **** storm and it's a hell of a lot easier to take funding away than it is to give it. Eric Holder has neglected financial crime entirely however, and as of today Obama has not prosecuted a single financial crime against Wall Street!!!!

Ok back to the topic...these banks are literally kicking people out of homes that never had mortgages or had them with that bank. All mistakes and the worst part is they aren't being held responsible to compensate. Bank of America won't even apologize. It has been in the news here a lot and Bank of America has claimed all of their belongings are lost, so due to the pending legal case they are refusing any responsibility at all which just sucks. they are going to lose and they know it, yet they are going to make these people go to court instead of just admitting they were wrong and writing them a fat check.

What is very scary to people like the couple in the article and like you BC who own second homes, people are getting phone calls from a neighbor or their tenants saying "hey what happened" or not getting a call at all. There was a woman in Ohio who's house was taken and sold before she even knew about it. The bank has ignored this and it's also on it's way to court where the bank will lose, pay a bunch of money yet they would rather get the negative publicity and drag the people through the mud instead of just admitting guilt and being accountable.

As of today not a single bank that has wrongly taken the incorrect home has been prosecuted for doing so. NOT ONE. Think of the laws they are breaking using the excuse "oh we had the wrong house" now imagine if you walked into your neighbor's house and took all their belongings and sold them and when the police caught you you used that excuse? You'd be in jail where these fucking banks belong.

 

[Mariahxxx]

no one????????????

 

[bw18081]

This is blasphemous to say the least, but I'm not really sure there is much to add to the topic, other than other example of the same. I hope that no one treads in the waters of attempting to defend any of the players at the bank, as this seems to go well past the realm of ignorance of the situation but rather into an accountability/responsibility issue, as you say. I wish the owners get their house and any possible belongings back, but clearly the damage has been done, as the article says.

As far as lack of prosecution of financial crimes, the double standard is contemptible. So long as one side of a case is either an entity of the government or benefits it in some way, it won't be prosecuted. The hand that feeds, so to speak. This has been an unfortunate exercise throughout history and clearly needs to end.

 

[wdoall]

This is why I won't use banks, credit unions are better

 

[georges]

Sorry if I am late replying to this, yes as much disgusting as it may sound, this is the result of what happens when the finance is too much implicated in politics and especially with governments. I may also add that people who are at the heads of banks are sometimes the worst crooks, just look at Madoff and there is another scumbag which is as bad as him which on the fbi's most wanted list http://en.wikipedia.org/wiki/Semion_Mogilevich. Eric Holder is a douche like most of the Obama administration, instead of setting free the non violent **** users, he should have spent his time in to repair the misdoings of the banks and file in court the banks responsible of inventing stories that people had mortgages when they never had them. Perhaps throwing in jail the president of Bank America alongwith all his accomplices would be a start. Now if there was a very ballsy and ruthless judge who could throw the directors of the banks responsible of what happened in jail, it would be great. But knowing Obama's staff mediocrity and irresponsibility to make things right in time and in an efficient way, I highly doubt that something will be done to repair these injustices.

 

[Jack Davenport]

If only I could be so lucky.......

 

[Petra]

Mistakes happen. It sucks for the person it happens to, but there's people behind the banks and they're not perfect. However, what is absolutely, 100% unacceptable is the fact that they don't admit to their mistake, don't make an effort to fix it, and will do or say nothing until the home owner sues them. And even if it makes it as far as a law suit, there is NO punishment for the mistake to make sure the error margin is reduced.

And personally, I'm not 100% sure how many of these are "mistakes". You have to wonder if the banks have a team sitting there figuring out who they can take a house from that won't fight them.

 

[Rey C.]

Sorry if I am late replying to this, yes as much disgusting as it may sound, this is the result of what happens when the finance is too much implicated in politics and especially with governments. I may also add that people who are at the heads of banks are sometimes the worst crooks, just look at Madoff and there is another scumbag which is as bad as him which on the fbi's most wanted list http://en.wikipedia.org/wiki/Semion_Mogilevich. Eric Holder is a douche like most of the Obama administration, instead of setting free the non violent **** users, he should have spent his time in to repair the misdoings of the banks and file in court the banks responsible of inventing stories that people had mortgages when they never had them. Perhaps throwing in jail the president of Bank America alongwith all his accomplices would be a start. Now if there was a very ballsy and ruthless judge who could throw the directors of the banks responsible of what happened in jail, it would be great. But knowing Obama's staff mediocrity and irresponsibility to make things right in time and in an efficient way, I highly doubt that something will be done to repair these injustices.

I generall agree with you here, Georges. I mentioned Holder's failure to go after major money center banks in these various money laundering cases. The same is true of the international interest rate manipulation cases that have come to light (Europe has been no better in this area). And the same is true here: abusive bank practices and "mistakes" facepalm are met with a light fine and a tap on the wrist... if that. But let's not pretend that there is any push in Congress to do anything either. With the GOP still following the mantra of "deregulate and cut taxes," as if it's some sort of religious chant, any attempt to crack down on the major banks would be met with "massive resistance" by the Republicans in the House and Senate. We know this. How? Well, how's that Consumer Financial Protection Bureau funding going?

There are so many homes in the U.S. that are in default and foreclosure that I realize there will be errors and mistakes. I get that. But when you screw up, you have to pay. Simple as that, IMO. And though it needs to be controlled in its scope, getting the Consumer Financial Protection Bureau off the ground would be a good first step. Shame on the Republicans for opposing it (in any form), along with the Volker Rule. And shame on Obama for not taking just a couple of seconds from worrying about gay marriage in Russia and his fantasy football picks to (really) put a shoulder behind something that affects the ENTIRE NATION!!!

Ohio ******'s Home Mistaken for Foreclosed Property Across the Street
July 26, 2013

A woman in McArthur, Ohio, about 70 miles south of Columbus, said a bank mistakenly cleared items from her home, confusing it for a foreclosed house across the street wtf, then demanded receipts when she asked to be compensated for her missing possessions.

She later learned First National Bank in Wellston, of which she is not a customer, had mistaken her home for a bank-owned property across the street.

 

[Jack Davenport]

20 paragraph responses being read from a mobile device is a bit tedious. LOL @ Rey C!

 

[Mariahxxx]

well according to the the show I was watching there have been more than 700 reported foreclosures on the wrong house. they think the number could be closer to 1200 or higher because of settled cases or cases not reported.

The fact that they do this without being held criminally responsible is outrageous. that in and of itself is a crime.

 

[Rey C.]

20 paragraph responses being read from a mobile device is a bit tedious. LOL @ Rey C!

Sorry 'bout that. So I went out and found you a new mobile device. It's a special Bill Gates Edition straight from the Microsoft Area 51 Labs. Once they add a seat and an engine, I expect this will **** the iPad in its *****. Cool huh?

P.S. In every instance I'm aware of, it takes a sheriff's or marshal's action to perform an eviction or property seizure. In some of these cases, simply verifying the property address would have prevented some of these mistakes from being made. Sure, the banks and processors are to blame too, but hiring cops who can read & write would also be helpful.

 

[Mariahxxx]

no they aren't required to do any such thing. They simply show up where the bank tells them to be. In the cases that I was reading about the bank had the correct names and addresses on the foreclosures, they weren't just the correct people they were supposed to be evicting.

 

[Rey C.]

I've done more evictions than I care to count. And one of the first things the city marshal or deputy does is verify the name and address. If you have 601 Maple St. Apt B on the eviction order, they're not going to let you evict the people in 601 Maple St. Apt. A. That's how it's done in the states that I've owned property in.

If the bank had the correct name and address on the legal documents when they filed for adverse possession, then the court would have issued the eviction order to the correct address and the sheriff's deputy or city marshal should have noticed that they were at the wrong address. If they can't read, then they're idiots and don't need to be cops.

But if the bank submits incorrect paperwork with the wrong address, then that's their fault and IMO, that should fall under extreme incompetence or maybe fraud on their part. And for basically "lying" to the court, they should be held legally liable.

 

[Mariahxxx]

but again, the banks actually have the names and addresses in order, they are just the wrong names and addresses for the people they are foreclosing on. so to anyone verifying it will look in order.

the couple in Spring Hill near me that I linked to the article who paid cash for their home and never even had a mortgage with B of A were the names list on the foreclosures and the address was accurate. so the bank probably did a property search to get the name which shows even more misconduct on their part.

 

[Rey C.]

In some cases, or maybe in the majority of cases, they do, Mariah. But in the Ohio case, the correct home had been taken to foreclosure. So at some point the court granted possession to the bank on that (the correct) property. And the bank (and the police) seem to confirm that a GPS unit wtf was used to find the house (the wrong one... on the opposite side of the street). Those are the only details I know about. But before one can enter anything but an abandoned property and seize items, the court has to issue an order granting possession. So it sounds like that not only was the bank fucked up, so were the cops or maybe the clerk of court. But don't get me wrong, however it happened, I lay the blame mainly on the bank. The cop just sands there to keep the peace. It was employees or contractors of the bank who carried their stuff out and "stole it".

 

[vodkazvictim]

no one????????????

Oh seriously, did you expect enlightenment from these pathetic, ignorant apes?

 

[raimmi]

Oh seriously, did you expect enlightenment from these pathetic, ignorant apes?

The king has returned?

 

[vodkazvictim]

The king has returned?

Fuck off.

 

[Philbert]

This is similar to a situation I had in a Laundromat (the case in Ohio where the bank wants receipts);
I took my clothes in to get them done (I was too busy to bother) and the attendant let someone walk off with all my jeans.
The owner told me they would pay for new jeans.
So, to be overfair, I said buy me 13 cheap pairs from Walmart , about $11 each. For work pants they do OK.
The attendant disagreed, saying I couldn't have had so many jeans, etc.
I pointed out that some were more expensive but used jeans, but if she wanted I could take the 10 jeans number she claimed I had left there (there were more) but I wanted better jeans for $20 each...she shut up and the owner gave me the cash.
The bank took property that wasn't theirs to take, entered a home they had no right to, and caused stress and loss to the ****** that had no culpability.
I think the bank will pay more out than the cost of the claim, and they will lose this case since they admitted the mistake.