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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Foreclosure activity up across most US metro areas - Yahoo! News

Image by Getty Images via @daylifeThis is something I've been talking about for years now. I have never been able to figure out why in the World people think they can buy a house and rent it out for 1000 plus a month. In average. Most people only make anywhere from 7 to 10 bucks an hour. This crash is only the beginning.
It's no wonder why all this greed for money has finally taken it's toll. Though I do feel sorry for those loosing homes through all this. I find it so sad that Credit, background checks and 20 million other laws determine whether or not you can have a place to live for your family.
With the jobs gone and more companies falling under no matter what the news says about it. Its gotten bad. If you rent out places. You might want to reconcider how much you charge for that rent.
I still remember when 2 and 3 bedrooms went for 400 a month. Today? 900 to 1500 for the same thing? And so many wonder why it crashed? We can't forget that the Jobs out there still don't pay any more than they did back then either.
This reason alone is just one of the reasons all this is happening today.
http://news.yahoo.com/s/ap/20110127/ap_on_re_us/us_foreclosure_rates
LOS ANGELES – The foreclosure crisis is getting worse as high unemployment and lackluster job prospects force homeowners in an increasing number of U.S. metropolitan areas into dire financial straits.
In Seattle, Houston and Chicago, cities that were relatively insulated from foreclosures early on in the housing bust, a growing number of homeowners are falling behind on mortgage payments and finding themselves on the receiving end of foreclosure warnings. Others have already seen their homes repossessed by lenders.
All told, foreclosure activity jumped in 149 of the country's 206 largest metropolitan areas last year, foreclosure listing firm RealtyTrac Inc. said Thursday.
The firm tracks notices for defaults, scheduled home auctions and home repossessions — warnings that can lead up to a home eventually being lost to foreclosure.
Job loss, rather than time-bomb mortgages resetting to higher payments, has become the main driver behind rising foreclosures.

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Has The State Of California Become The Epicenter Of The Economic Collapse Of America?

clipped from theeconomiccollapseblog.com Americans who wanted to fulfill their "California dreams".  But those days are long gone.  Now, the state of California has become an economic nightmare.  In fact, many would argue that California has now become the epicenter of the economic collapse of the United States.  Everything that once made California great is now being swamped by a tidal wave of unemployment, foreclosures, crime, budget cuts, traffic, taxes and natural disasters.  There is a reason why every year now many more people leave the state of California than move into it.  The state of California is suffering a slow economic death, and if something is not done it could end up being one of the biggest financial disasters in history.    The economic crisis of the past several years has hit California so incredibly hard that it is hard to describe.  According to the U.S. Labor Department, the unemployment picture in the state continues to deteriorate, with an overall unemployment rate of 12.5 percent in January.

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Your landlord got foreclosed. Do you have to go?

Image by Getty Images via Daylife

Very interesting and many are going through this right now. Know your rights. Be sure to read this entire article if you are going through this.

clipped from money.cnn.com NEW YORK (CNNMoney.com) -- Renting a home that is going through foreclosure? If so, don't be fooled: Lenders can't kick you out; they have to honor the terms of your lease. Of course, that doesn't mean that some lenders' representatives aren't trying to scare people away. Sandra Pearson has lived in her rented townhouse in Santa Maria, Calif., since July 2007. But last October, the single mom -- whose 17-year-old son suffers from epilepsy and autism -- was served with a vacate notice. But in December, First Federal failed, and OneWest Bank took over its assets -- including the Santa Maria townhouse. When Pearson went to pay her rent, the agency managing the property for OneWest refused to accept the check. They threatened her with court action and claimed her lease was not legitimate. Worse, the message threatens legal costs if tenants don't comply. With that facing them, many fold their tents.

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