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Couple turns table, forecloses on bank

A couple, originally from Ohio, decided to head south and found their dream retirement community. The couple found an affordable home and paid the purchase price of $165,000 in cash. Four months later a representative from Bank of America came pounding on their door seeking mortgage payment arrears.

The bank seemed to believe the couple was I default on their newly purchased home. The former Ohioans were not going to put up with the bank's shenanigans. When the bank filed a foreclosure proceeding against the couple, they fought back.

The couple took Bank of America to court. The court ruled in favor of the couple. The foreclosure claim the bank claimed to have was without merit. When the court ruled in favor of the couple, they asked the court for fees to cover their costs in litigating against the sham of a foreclosure claim. The judge agreed.

The bank never paid the award for fees in the case. In an ironic twist, the couple sought to recover the money they were due from the bank under the court order. The husband and wife made numerous calls seeking the money they were due. They wrote a letter to the bank's president seeking payment.

Still no check came in the mail.

The couple decided to use the bank's own procedures to their fullest. The former Ohio residents sought to foreclose on the bank. The two did not approach the bank alone. Instead they arrived with their lawyer, two sheriff's deputies and workers from a moving company. The Florida branch office of the bank they descended upon reportedly was closed down for roughly an hour.

The couple's foreclosure proceeding against the bank apparently seemed to work. The branch manager wrote out a check for the original court ordered amount, plus additional expenses the couple incurred in foreclosing on the bank. Bank of America has apologized to the couple for the matter, including the delay in paying the couple the money they were due.

Source: ABC 2, "Well isn't this ironic? Homeowners foreclose on Bank of America," Tia Craddock 7 Jun 2011

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