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Bank Of America Forecloses On A Man Who Has No Mortgage

This story actually broke on September 23rd about a man in Florida who was evicted from his home unjustly by Bank of America. Further investigation revealed that Bank of America made some serious blunders in the review of documents and certification of foreclosure papers by its’ employees. Recent cases like this one have led to Bank of America actually announcing today that they will halt foreclosures in all 50 states as of today. Other major lenders such as Chase and GMAC have made similar recent announcements. Does this mean that if you are in foreclosure with a lender that you have now hit the jackpot due to mistakes made by the lender with the initial documentation signed or the affidavits made by bank representatives during the foreclosure process? It is unlikely that the court will dismiss these foreclosures. These revelations will most likely delay the inevitable for most faced with foreclosure. Many attorneys do believe that some form of damages will apply to lenders who have proceeded to foreclose in a reckless and irresponsible manner. How this will benefit those homeowners who are faced with foreclosure? We will have to wait and see. Read more

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