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Court Order Declaring Bank of America’s Foreclosure Sale to be Void and Setting it Aside

Superior Court judge George Bowden ruled that Bank of America’s actions had been “unfair and deceptive” and voided the foreclosure.

Judge George N. Bowden of the Superior Court in Washington State ruled against Bank of America (BoA) in a foreclosure battle that ended with the nonjudicial foreclosure sale under the Deed of Trust Act (DTA). Bowden acknowledged that this case was like most; “convoluted in the minefield” that is the Mortgage Electronic Registration System (MERS) system. Bradburn, the homeowner, was told by BoA “that he should stop making his mortgage payments so that he could qualify for refinancing.”

BoA ensured that this homeowner was in default of the mortgage by promising to refinance; then initiated litigation against the homeowner to retrieve the property for failure by Bradburn to remain current on his payments.

Bowden pointed out that the DTA “seems to contemplate a borrower and a lender with an independent trustee having the power to foreclose on the deed of trust in the event of default by the borrower. The lender would normally hold the underlying note and be the beneficiary of it. Here matters have been complicated by the sale of the underlying note from HomeStar Lending to Countrywide, which was later acquired by [BoA].”

This is another major victory against the unethical and illegal foreclosures industry that has left millions of Americans homeless. It’s also a strike against the widespread practice of having companies that have an incentive to foreclose act as the “trustee” on the home—in this case it was ReconTrust, which itself is a subsidiary of Bank of America. They’re supposed to be neutral under state law.

2 comments

  1. Take a look at this, everyone who has lost there home with unscrupulous bankers. You may want to talk to an attorney if your conditions are similar!

  2. But the biggest bank crook of them all is JP Morgan Chase Bank. That bank just recently rescinded a default notice it had on file against me for over 4 years. My lender was former WAMU. The notice named Washington Mutual Bank as beneficiary and California Reconveyance as trustee. But the notice was filed more than a year after the FDIC had closed WAMU and taken all of assets. Chase has taken homes based on the same false and fraudulent default notice. In the meantime we cannot get a peep out of the FDIC. who was suppose to be in control of our note when the default notice was filed naming WAMU

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