Housing Market

Foreclosing On Bank of America

After foreclosing on a couple who didn't even have a mortgage, Bank of America got more than they bargained for.

Florida homeowners Maurenn Nyergers and her husband paid for their home in cash, and never took out a mortgage, so when Bank of America filed foreclosure papers on the house, they took the bank to court, and won. And when Bank of America wouldn't pay their legal fees — as it was ordered to by the court — their attorney, Todd Allen, decided to seize its assets, in person, with movers and sheriff's deputies in tow.

Threatened by Allen's instructions to "remove desks, computers, copiers, filing cabinets and any cash in the teller's drawers," the bank paid up after about an hour, though one imagines the sight of the nervous bank manager was almost payment enough for a foreclosure defense attorney like Allen.

While this is very amusing, I can only imagine just how many other times this has happened and the victims could not afford an attorney or they ran into a judge who was more inclined to side with the bank.