IW: this is becoming more common. We should have just re-possessed them in 2008 instead of giving them our TARP money.
Collier court documents show that they bought a house in Golden Gate from the bank for $165,000 in 2009. They paid cash, no mortgage.
But somehow the bank and its attorney, the David J. Stern law firm, became convinced that the couple had a mortgage and was behind in the payments, Allen said. Bank of America filed for foreclosure Feb. 16, 2010.
via Deputies and Movers Show Up at Bank of America to Seize Assets | Common Dreams.
Filed under: activism, Corporations, grassroots democracy, News, politics, US Politics Tagged: | Bank of America, banking, business, Financial Services, foreclosure, lawyer, mortgage, Repurchase agreement, Sheriff, Troubled Asset Relief Program, united states
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