Tables Turn: Deputies and movers show up at bank to seize property for homeowner

Image by Getty Images via @daylifehttp://www.winknews.com/Local-Florida/2011-06-03/Tables-Turn-Deputies-and-movers-show-up-at-bank-to-seize-property-for-homeowner-
COLLIER COUNTY, Fla. - A bank foreclosure story you've got to see to believe. A Collier County couple turns the tables on Bank of America, the bank that tried to foreclose on their home. Now, the family is foreclosing on the bank! Even bringing trucks and deputies ready to seize property.
The foreclosure nightmare started when Warren and Maureen Nyerges paid cash for a home owned by Bank of American in the Golden Gate Estates. They never had a mortgage whatsoever. But, the bank fouled it up and wound up issuing a foreclosure through their attorney.
The couple took their case to court and after a year and a half nightmare the foreclosure was dropped. A Collier County judge said Bank of America has to pay the couple's $2,534 legal fees for the error. After more than five months the bank still hadn't paid up. So, the homeowners' attorney did just what the bank would do to get their money, legally seize their assets.
"I instructed the deputy to go in and take desks, computers, copiers, filing cabinets, including cash in the drawers," Attorney Todd Allen told WINK News.
Outside the Bank of America on Davis Boulevard, several deputies stood by with movers ready to start hauling out the bank's office supplies and furniture.
Inside, the homeowners' attorney was locked out of the bank manager's office by deputies while the bank manger tried to figure out what to do.
Allen says the manager was visibly shaken, "Having two Sheriff's deputies sitting across your desk, and a lawyer standing behind them, demanding whatever assets are in the bank can be intimidating. But, so is having your home foreclosed on when it wasn't right."

Read more: http://www.winknews.com/Local-Florida/2011-06-03/Tables-Turn-Deputies-and-movers-show-up-at-bank-to-seize-property-for-homeowner-#ixzz1Op0H6tTH

June 6, 2011 11:17 AM

Couple almost forecloses on Bank of America

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(CBS News)  Talk about turning the tables on a bank!
Warren and Maureen Nyerges paid cash when they bought a home from Bank of America in the Golden Gate Estates section of Collier, County, Fla., according to CBS affiliate WINK-TV in Ft. Myers.
But that didn't stop Bank of America from trying to foreclose on them.

Read more: http://www.cbsnews.com/stories/2011/06/06/earlyshow/main20069297.shtml#ixzz1Op1W5kRF

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Wishing Greece Had Never Joined the Euro

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clipped from www.nytimes.com Now, as Greece’s E.U. partners prepare to bail out the debt-ridden country — the first time that the 16-nation euro zone has needed to rescue one of its members — many critics, inside and outside the country, are wishing that Mr. Papantoniou had lost his bet. Amid growing concern that the contagion could spread to countries along Europe’s southern tier and even infect the Continent’s banking system, Greece’s turbulent recent history suggests that the crisis is, in many ways, a peculiarly Greek tragedy. It is rooted in an ancient country’s epic profligacy and abetted by the hubris of European leaders whose desire for integration at any cost compelled them to allow political considerations to trump economic realities. But those in favor of expansion carried the day, arguing that linking countries like Greece, Spain and Portugal to European structures was the best means to modernize their fragile democracies.

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Big Banks Dominate U.S. Banking System: Study

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clipped from www.huffingtonpost.com Just 16 banks account for more than half of the assets in the nation's banking system, new data show. The banks -- all of which have more than $100 billion in assets -- control nearly 56 percent of all assets in the banking system, according to an analysis of fourth quarter Federal Deposit Insurance Corp. data by Dennis Santiago, CEO and managing director of Institutional Risk Analytics, a California-based consultancy. Leading voices like Federal Reserve Bank of Kansas City President Thomas M. Hoenig and U.S. Senator Ted Kaufman (D-Del.) want to bust up the megabanks, arguing that the firms played a big role in causing a near-meltdown of the financial system and the subsequent Great Recession. The firms benefit from their size by being implicitly -- if not explicitly -- backed by the U.S. government, giving them a huge advantage over traditional Main Street banks, which harbor no illusions about U.S. taxpayers possibly bailing them out.

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