Bank of America Forecloses on House Paid in Cash

Monday, February 15, 2010 , , 2 Comments

Pic credit: NYT


Tampa Bay Times

Charlie and Maria Cardoso are among the millions of Americans who have experienced the misery and embarrassment that come with home foreclosure.

Just one problem: The Massachusetts couple paid for their future retirement home in Spring Hill with cash in 2005, five years before agents for Bank of America seized the house, removed belongings and changed the locks on the doors, according to a lawsuit the couple have filed in federal court.

Early last month, Charlie Cardoso had to drive to Florida to get his home back, the complaint filed in Massachusetts on Jan. 20 states.

The bank had an incorrect address on foreclosure documents — the house it meant to seize is across the street and about 10 doors down — but the Cardosos and a Realtor employed by Bank of America were unable to convince the company that it had the wrong house, the suit states.

"Their own real estate agent told them, and nevertheless Bank of America steamrolled right ahead," said Joseph deMello, an attorney in Taunton, Mass., who is representing the couple. "This is a nightmare for anyone, and it affected my hard-working clients a lot."

Market Ticker has the angry rant if that's more your style. Shame on you, BAC!

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


OldSouth said...
This comment has been removed by the author.
OldSouth said...

This incident is particularly troubling, as I learned last week that the house next door is in foreclosure.

What could possibly go wrong?