BOA FILES FORECLOSURE — ON HOUSE THAT DOESN’T EXIST

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EDITOR’S NOTE: Their business is foreclosures. Anything that is capable of being foreclosed gets the treatment. Even a home destroyed by a hurricane. One of the interesting parts of this is that the Bank also put insurance on the home that was previously destroyed by hurricane Ike. What is interesting about that is that the insurance company accepted payment and insured the property as though it did exist.

All of this leads me to ponder a few things. What due diligence does an insurance carrier perform before they agree to take on a risk of insuring a home? In this case, apparently none. What about when the home was purchased or refinanced with grossly inflated values? Do they confirm the value or do they put language into the contract that will reduce the coverage to fair market value if the home is totally destroyed? What value do they put on the land?

Is there anything in the contract between the Banks and the insurance companies that would shed light on their relationship — particularly with respect to forced placed insurance where the premium is sometimes a multiple of standard premium prices? If the so-called appraised value was far higher than replacement or actual fair market value, how much will the insurance company pay if the house burns to the ground or is swept away by flood or other disaster?

Bank forecloses on home that does not exist

On behalf of Law Office of Jennifer Casey posted in Foreclosures on Thursday, November 10, 2011

Millions of Americans are facing foreclosure. It can be a frustrating and difficult to time. It was especially frustrating for one Texas man who said the bank was foreclosing on a home that wasn’t there anymore.

The property owner never missed a mortgage payment on his property. What he did miss was his house, which was destroyed in Hurricane Ike. All that’s left is the concrete frame of the home.

Bank of America moved to foreclose on the Seabrook house, saying there was a homeowner’s policy on the property and the payments had increased. The homeowner was living overseas and says he never received notification. He says he got wind of the foreclosure only two days before the sale was to occur. He hired an attorney to stop the sale, but the bank later removed his personal property from the premises, including tools and collectibles.

The bank will not comment on what happened with the man’s personal possessions. However, it apparently acknowledged the bank incorrectly placed insurance on a home that did not exist. A representative indicated the man’s account now had to be audited to determine what discrepancies need to be corrected.

Thousands of Texas homeowners face property foreclosure every day. Some have seen their debt spiral helplessly out of control and are not sure which way to turn. Those affected would likely benefit from conferring with an attorney experienced in debt relief strategies, including bankruptcy protection. The lawyer can assess the facts and circumstances and help fight foreclosure actions, while devising a strategy for a return to financial health.

Source: Click2Houston, “Bank Forecloses On Home Destroyed By Ike,” Amy Davis, Oct. 28, 2011

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10 Responses

  1. In Opposition of Parties Foreclosing:

    Request for Preservation and demand for Production in accordance with the following documents.

    DEFINITIONS

    1. The word “document(s)” includes all “writings,” “recordings,” and
    “photographs,” as those terms are defined in Rule 1001 of the Federal Rules of Evidence,and should be construed in the broadest sense permissible. Accordingly, “document(s)”includes, but is not limited to, all written, printed, recorded or graphic matter, photographic matter, sound reproductions, or other retrievable data (whether recorded,taped, or coded electrostatically, electro magnetically, optically or otherwise on hard drive, diskette, compact disk, primary or backup tape, audio tape or video tape) from whatever source derived and however and by whomever prepared, produced, reproduced,disseminated or made. Without limiting the generality of the foregoing, “document(s)” includes the original and any non-identical copy and also every draft and proposed draft of all correspondence, internal memoranda, notes of meetings, telegrams, telexes, facsimiles, electronic mail, reports, transcripts or notes of telephone conversations, diaries, notebooks, minutes, notes, tests, reports, analyses, studies, testimony, speeches, worksheets, maps, charts, diagrams, computer printouts, and any other writings or documentary materials of any nature whatsoever, whether or not divulged to other parties, together with any attachments thereto and enclosures therewith. In addition, the word “Document(s)” encompasses all forms and manifestations of electronically or
    optically coded, stored, and/or retrievable information, including but not limited to “email,” “voice mail,” digital images and graphics, digital or analog audiotapes and files, and digital or analog videotapes and files.

    2. The word “person( s)” includes not only natural persons, but also firms,partnerships, associations, corporations, subsidiaries, divisions, departments, joint ventures, proprietorships, syndicates, trusts, groups, and organizations; federal, state, or local governments or government agencies, offices, bureaus, departments, or entities; other legal, business, or government entities; and all subsidiaries, affiliates, divisions, departments, branches, and other units thereof or any combination thereof.

    3. As used herein, any reference to any “person” includes the present and former officers, executives, partners, directors, trustees, employees, attorneys, agents, representatives, and all other persons acting or purporting to act on behalf of the person and also its subsidiaries, affiliates, divisions, and predecessors and successors in interest.

    4. The words “you,” “your” or “defendants” refer to defendants, defendantintervenors, and their agents, representatives, attorneys, experts, and all other persons acting or purporting to act on behalf of Defendants.

    5. The singular of each word shall be construed to include its plural and vice versa, and the root word and all derivations (i.e., “ing,” “ed,” etc.) shall be construed to
    include each other.

    6. The words “and” as well as “or” shall be construed both conjunctively as well as disjunctively.

    7. The word “each” shall be construed to include “every” and vice versa.

    8. The word “any” shall be construed to include “all” and vice versa.

    9. The present tense shall be construed to include the past tense and vice versa.

    10. The masculine shall be construed to include the feminine and vice versa.

    11. The words “knowledge,” “information,” “possession,” “custody,” and “control” of a person shall be construed to include such person’s agents, representatives, and attorneys.

    12. The word “including” shall have its ordinary meaning and shall mean “including but not limited to” and shall not indicate limitation to the examples or items mentioned.

    13. The phrase “reflect, refer, or relate to” means reflecting, referring to, relating to, regarding, discussing, concerning, constituting, mentioning, pertaining to, alluding to, or associated with.

    14. The words “to present” mean to the date on which you respond to these interrogatories and requests.

    15. The term “FHLBB” means the Federal Home Loan Bank Board as an undiscosed interested party to the Plaintiff to this action.

    16. The term “Speific recitals”

    17. The term “electioneering registry ” for “communication” is defined in the same manner as that term is defined in MersCorp registrations .

    18. The words “restriction” and “restriction on election registry refer to those provisions of MersCorp procedures boarding mortgages and any of the listed prohibited acts and otherwise restrict “electronic registry as defined by MersCorp Procedures , and disbursements or positing payments for the same.

    INSTRUCTIONS

    1. Unless otherwise specified, if your response in regard to a portion of the time period addressed in any interrogatory differs from your response in regard to another portion of such period, provide a response for each such portion and indicate the period
    of time to which each response relates.

    2. Deem any reference to a non-natural person to include the legal
    predecessors of such non-natural person.

    3. When an interrogatory asks you to “describe” or “identify” a document, provide the following information with respect to each such document:

    a. The date appearing on such document; or if it has no date, so state and give the date or approximate date such document was prepared, produced, created, or came into being;

    b. Any identifying or descriptive code number, file number, title or label ofsuch document;

    c. The general nature or description of such document;

    d. The name of the person(s) who signed, authored, produced or createdsuch document;

    e. The name of the person(s) who prepared such document if different from the name provided pursuant to subpart (d) of this instruction;

    f. The name of the person(s) to whom such document was addressed and the name of each such person other than the addressee to whom such document, or copy or reproduction thereof, was given or sent;

    g. The name of the person or entity having present possession, custody and/or control of such document;

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    i. If such document was, but is no longer in your possession or control,state what disposition was made of such document, the reason for such disposition, and the date thereof.

    j. Whether or not any draft, copy, or reproduction of such document
    contains any script, notation, change, addendum, or the like, not appearing on such document itself, and if so, the answer shall give the description and identification of each such draft, copy or reproduction in accordance with the above subparts (a) through (i).

    4. The above information shall be given in sufficient detail to enable anyperson or party to whom a subpoena or request for production is directed to identify thedocuments sought to be produced and to enable counsel to determine whether suchdocument, when produced, is in fact the document so described and identified.

    5. Notwithstanding any other instruction in this First Set of Interrogatories that is or may be to the contrary, if a document has already been produced by you to the plaintiffs, such document may be identified by specifying the MersCorp records numbers for all
    pages of such document.

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    a. The full name, current or last known business and residence addresses,and business and residence phone numbers of such person;

    b. The name and address of the agency, employer or entity at which such Person worked and/or to which such person reported;

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    8. When an interrogatory calls for the “description” or “identity” of any
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    following:

    a. The nature of the document you contend is privileged (e.g., letter,
    memorandum, chart, picture, report, etc.);

    b. The number of pages comprising the document and a description of anyidentifying marks or designations (Routing No. ABA Wire, CUSP; Commercial Lines, UCC-1 filing) ) if any, on the document;

    c. The date of the document which you contend is privileged;

    d. The name(s) of the author(s) and of any recipient(s) of the document;

    e. The name and address of any person who is not included in your
    response to subpart (d) with respect to such document and who has access to or has seen, read, or heard any portion of the material in the document that you contend to be privileged; and

    f. The nature of the privilege asserted.

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    Specify the reasons for your inability to answer and state whatever information or knowledge you have concerning the unanswered portions.

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    M.Soliman
    expert.witness@live.com

  2. @Marie , “other improvements” ,, it was beachfront … there’s nothing of the structure left but the foundation .. I guess there might be a septic tank..

  3. This is has happened numerous times with BOA. They have foreclosed on properties without a mortgage in Florida.

  4. Ha- ha – ha — really have to laugh at this one.

  5. Where are the courageous AG’s?

  6. Just a file in a computer? With no actual knowledge of the facts peculiar to the case, it looks like an opportunity to extort money, property or both from it’s owner, to a random thief employed by BAC.

    The bank’s agenda is to get title to all real estate, by any means they can utilize–legal or illegal.

    When is someone going to prevail over these banks on a criminal tresspass charge? If any common criminal did this, he’d go to jail, yet the banks do it with total impunity.

  7. Working with my GF on her BoA “mortgage” now, she is paying high interest and they of course are making her pay off her second in order to loan mod the first and the bank manager told her that her income was too high, which is complete crap it doesn’t go off of income it goes by all of the factors. Anyway we are about issue the QWR and Debt Validation requests and see how they like THAT.

    She is one mile away from Arthur Schack’s jurisdiction, unfortunately.

    Meanwhile……

    Robo-signing and fake docs once again….. notaries run away from Thomas P. Dore….
    http://mortgagemovies.blogspot.com/2011/11/occupy-wall-street-strengthens-in-nyc.html

    TUESDAY, NOVEMBER 22, 2011

    Occupy Wall Street strengthens in NYC with Catholic Worker Maryhouse/040 + How M&T Bank & foreclosure mill attorney Thomas P. Dore run Maryland Courts.

  8. Don’t the ground and other improvements still exist.

  9. BofA sent a “trash out” crew and they destroyed the few personal belongings this man salvaged from his hurricane destroyed house .. and yes he was current on payments ,, however his address changed (as he couldn’t live on a bare foundation) and there were “communication errors” ,, you can bet that BofA intends to collect on insurance somewhere to make this seemingly stupid move profitable.

  10. Why would a knowledgeable attoney who is NOT a Real Estate Lawyer not want to take this case?

    The homeowner did not miss a payment means what? They continued to pay following hurricane Ike?

    Did the homeowner receive a settlement from insurance?

    What triggers ‘forced placed insurance’?

    What triggered the foreclosure action will reveal a defect and loophole one may bring into the light of day.

    Did someone just sell a current default is all? 91st day Aggreator generates orders to process foreclosure imminient.

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