Dr. Alan Schroit and his wife had a truly scary Halloween in Galveston, Texas this year. When they went to their home to get ready for a party the next day, they found the locks changed and needed the police to get into the house. They then found putrid food due to the electricity being turned off. It turns out the Bank of America foreclosed on the wrong home, but the Bank’s counsel still claims Schroit’s lawsuit is “has no merit.” Hmmmm.
Upon entering the house, the couple was hit with the overwhelming smell of rotten fish: the result of the Bank turning off the power with 75 pounds of Alaskan salmon and halibut in the freezer.
The couple has no connection to the Bank, but spokesman Rick Simon insisted that the filing has “no merit.” Unless they are mistaken about the involvement of the Bank of America, it is hard to why this is a meritless claim or what it would take to have a credible claim against the Bank.
The Bank of America has been previously accused of seizing the wrong house, here.
At the Consumerist site below, someone suggested trying this with one of their branches to see if it would have merit.
А телефон свой не оставите? Хотелось бы кое-что обсудить по теме.
It’s painfully obvious the bank didn’t perform its due diligence. A simple title search of the land records, if not by the bank, but by the bank’s agent, could have gone a long way in avoiding foreclosing on the wrong property.
In this case the catch phrase “no merit” means “we will pay lots of money, but not right away.”
Abandon “too big to fail” banks in favor of credit unions and community banks.
Rcampbell,
I’m in the process of doing just that. While I’m not surprised by this story,or AY’s description of Texas Law, there is a certain sense of stupefecation in the thought that banks are allowed to foreclose with so little verification of their right to do so.
We can give thanks to the University of Chicago, Harvard Business School, Ronnie Reagan, the Republican Party, Fundamentalist Christians,
Neocons, Free Traders, Bill Clinton and Democrats on the take, for ushering in a new age of Pirate Capitalism. The non-elite citizenry are the “marks,” politicians the “shills” and the “Corporatist’s” the scam artists.
Move Your Money!!!
Abandon “too big to fail” banks in favor of credit unions and community banks. In the last 30 days, tens of thousands of people have shifted their checking. savings, CD’s, even mortgages to smaller more responsive, less expensive local banks. There’s virtually no risk, people are saving money, community banks are investing in small businesses…. It’s a win-win for everyone except BofA and their ilk.
moveyourmoney.info
This is an amazing case of ineptness by B of A,and some serious arrogance. AY, I was shocked when you informed us that Texas does not have redemption rights for the borrower! Just one more reason to stay away from Texas. That is horrible.
Buddha,
I thought that was what Bill said to Monica. I may be wrong.
I smell many large “Confidential Out of Court” settlements approaching on this bank led “Home Invasion”.
Chris,
One lives to be of service.
A shield against liability is a terrible tool for society to loose control of.
Welcome to the Machine. Here . . .
[youtube=http://www.youtube.com/watch?v=KUDpc04r_QM&hl=en_US&fs=1&]
“I know of no safe depository of the ultimate powers of the society but the people themselves; and if we think them not enlightened enough to exercise their control with a wholesome discretion, the remedy is not to take it from them but to inform their discretion.” – Thomas Jefferson
The Gentleman from Virginia’s feelings on corporations proper need not be restated.
Buddah
I had an epiphany in the last week because of a horrible experience with AT&T. It made me think of your cynicism toward corporations.
A couple of months ago my wife tried to order cable and internet through AT&T. In the process of acquiring the service they told us that we would have to pay a $500 dollar deposit. Being that we are both college students my wife informed them that we would not be able to acquire service through AT&T.
Two days later a gentleman called my wife and informed her that he had set up the internet service. That day a lengthy process began of speaking to almost a dozen service representatives about solving this problem. I eventually received a bill for $40 dollars and didn’t I should have had to pay it. All of the service representatives I spoke with agreed with a number of times I was told the bill would be taken care of.
Then last week I received a notice from AT&T that corporate had denied my claim and that I still owed the money. I again called and was this time told by two service reps that I shouldn’t have to pay the bill but that corporate had already made the decision so I was basically screwed. It is ridiculous that I couldn’t even get an explanation of why I should have to pay the bill.
Eventually I was contacted by someone who said they would take care of it but it makes me wonder about how much power they had. They could essentially do this to anyone.
Boy Hogwallop: “Paw said I could shoot anyone that come from tha’ bank.”
A phrase from the Depression Era comedy “O Brother Art Thou?”, coming soon to neighborhood near you.
Sponsored by
Wall Street! We steal more before noon than you can make in a thousand life times!
and
Washington D.C. – When you need the law in your favor? Just bring the cash. No offer too low. No request too low. We are open 24/7 for you “legislative” needs!
in cooperation with the graft merchants of K St.
K Street – Where the Money Meets The Road And The Tires Meat The Human Race! A division of Mammon, Inc.
AY,
thank-you for your explanation……so basically this should never have happened
Here in Texas a Foreclosure is not unlike any that you have seen. Notice RRR to borrower, 20 days. After that another 20 and demand full payment. Then a Notice is sent and posted in the county of the property noticing a sale. Then it is sold as the borrower gives a power of sale in the case of default. If not, then they have to go through the Judicial Foreclosure process. Hence no judicial process/enforcement.
Then in Texas, the borrower has no right of redemption after the sale.
TomdArch:
“This implies that the locksmiths, utility companies, etc. act on the mere say-so of the bank to enter peoples homes to do things like change locks and cut services. If I was at legal risk of felony trespassing charges, I would do a little due diligence before messing with someone else’s house.”
That is a most excellent point. I wonder if the couple will bring charges against anyone else.
I know very little about the American banking structure, but I can’t even begin to wonder how something like this can happen!
I like this angle. Now if the Plaintiff’s attorney can get that Florida judge to hit em with a 100K sanction for filing a frivolous defense without merit?
Hell if I was the bank I would have at least claimed as Affirmative Defenses: Laches, Assumption of Risk, Plaintiff failed to mitigate its own damages, but for the neglect of the Plaintiff the damages would not be so sever, Breach of Contract, the Statue of Anne, Statue of Frauds, UCC, Violation of Truth Lending disclosures as a consumer, Deception under the Fair Debt Collection Practice Act, Fraud and Slander, Interference with a Contract, trespass to land and chattel, conspiracy with the local law enforcement to trespass and utter and publishing and as many as the local court rules would allow. The list is not exhaustive, nor collectively inclusive.
This could prove to be a wonderful consumer protection case. Now the next question, where the hell was the Insurance Company that collected the Premiums. They surely received notice that the House was Foreclosed upon. Surely for that extra premium that they collect for that little ole rain thingy called a Hurricane. Hopefully the insurance company and the really US owned Bank of America can cough up some dough rhea to mia….
This implies that the locksmiths, utility companies, etc. act on the mere say-so of the bank to enter peoples homes to do things like change locks and cut services. If I was at legal risk of felony trespassing charges, I would do a little due diligence before messing with someone else’s house.
maverratick, I like you idea but I think you’d find BoA owns the sheriff’s department.
The response is obvious. Get the sheriff to lock the bank and cut the power going to it, so as to unfreeze the money inside that they aren’t lending to anybody.