One very, very small bit of justice within a cluster**** economic disaster...

Florida Homeowner Forecloses On Bank of America (http://videocafe.crooksandliars.com/scarce/florida-homeowner-forecloses-bank-america)

Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff's deputies foreclose on the bank.

It started five months ago when Bank of America filed foreclosure papers on the home of a couple, who didn't owe a dime on their home.
Sheriff's deputies, movers, and the Nyergers' attorney went to the bank and foreclosed on it. The attorney gave instructions to to remove desks, computers, copiers, filing cabinets and any cash in the teller's drawers.

After about an hour of being locked out of the bank, the bank manager handed the attorney a check for the legal fees.
(Crooks & Liars (http://videocafe.crooksandliars.com/scarce/florida-homeowner-forecloses-bank-america))

I read that this morning. It's amazing how banks do this more times than we think, and we end up on the hook. Good on them!

I'm now waiting for the spin :-S

I read that this morning. It's amazing how banks do this more times than we think, and we end up on the hook. Good on them!

Actually you will not see very much of this in Ontario. The mortgagee has at least two choices here:

Foreclosure
Power of Sale

Normally they will go the Power of Sale route. Sue for payment and possession, but not take title. Then they sell off the property. The downside for them is the owner's title is not extinguished so they have a fiduciary duty to the owner to obtain the highest possible price. The upside is that if they do follow the rules and still have a shortfall, they can then go and sue the owner on the personal covenant for the outstanding balance.

I think that other provinces are much like the States where there is no personal covenant and foreclosure is the main option.

Actually you will not see very much of this in Ontario.

It think groove not only meant that he sees it happening in Canada, but that he sees it happening to homes where the mortgage is being paid.

It think groove not only meant that he sees it happening in Canada, but that he sees it happening to homes where the mortgage is being paid.

That would be nasty.

For most parts of the province, people are on Land Titles as opposed to the Registry Office system. That should give some protection as it does give a government guarantee of title. Unless there is blatant identity theft, the "mortgagee" would have to show evidence on title, which would not exist.

Had read the article and seen the news video a couple of days ago, would have loved to have seen a camera on the bank manager while that went on.

As far as the illegal actions of the bank, the incident was hardly isolated. The only reason a number of Banksters are not in jail is that they own Congress lock, stock and barrel.

The property was originally purchased from the bank, so it isn't a case of a bank going out at random to foreclose on a property it has nor relation to. However, the bank's actions are appalling.

Stranger still, it looks like once the case was settled--and blamed on an attorney who is now longer in business--the couple received a new claim from the bank's new legal company a few days later.

Tables turned: Bank pays up in mistaken foreclosure case » Naples Daily News (http://www.naplesnews.com/news/2011/jun/03/tables-turned-bank-of-america-foreclosure-case/)

Noticed the pollution index was a lot lower today, Thank you McQuinty for stopping all
those coal fired generators, Can't imagine the cheapy Cons caring too much about trivial things like that.

It'll be a shame to see him go, He's done so much for asthma sufferers in Toronto,
Guess we'll just have to bite the bullet and hope the PC's don't bring back suffering.

Whether that be breathing or cutbacks in social spending to the poor and the disabled.

I often wonder how many new disabled schools have been built per capita to abled bodied schools,
You can bet there is a lot more busing going on to disabled schools than there is to able bodied schools.

I blame all governments for that.

Noticed the pollution index was a lot lower today, Thank you McQuinty for stopping all
those coal fired generators, Can't imagine the cheapy Cons caring too much about trivial things like that.

It'll be a shame to see him go, He's done so much for asthma sufferers in Toronto,
Guess we'll just have to bite the bullet and hope the PC's don't bring back suffering.

Whether that be breathing or cutbacks in social spending to the poor and the disabled.

Take your meds Dave....

Take your meds Dave....

Funny guy, If you were at work, That would be classed as workplace harassment.

Damn...I posted in the wrong thread...You might have said something...Arrrgh.

O.K. Ignore that previous posting, I've posted in the right spot now.