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  1. #1
    Join Date
    Jun 2007
    Posts
    33,681

    CA-Elderly couple's home in ruins in foreclosure mistake

    This is horrible. I hope they can get the sentimental items back.

    Elderly couple's home in ruins in foreclosure mistake

    A couple's retirement home is in shambles after a bank foreclosed on the wrong home, sending in subcontractors that reportedly ruined what they could not salvage to sell later on.

    http://www.ksl.com/?sid=22042554&nid...&s_cid=queue-5

  2. #2
    Join Date
    Apr 2005
    Posts
    4,212
    $260.000 is not enough..Not for the heart ache.. so sad. Thank god they weren't living there..

  3. #3
    Join Date
    Sep 2008
    Posts
    378
    What I don't understand about foreclosure, even if they had been in the right home which they weren't, I must be naive, the bank says the home was mistakenly "secured". Secured??? Really???
    Does that mean to trash the place and break windows, doors, and walls?
    Wouldn't the bank want to re-sell the place and want it kept intact? I can see moving out belongings and emptying it, but I don't understand the destruction.

    To me, $260,000 is a lot of money but not nearly enough for the heartache and the loss of sentimental valuables taken from them.

  4. #4
    Join Date
    Oct 2005
    Posts
    2,915
    We lost our home in a bankruptcy. I was amazed at how the bank's people went through and gutted the place. Left a lot of mess that no doubt discounted the value even more.

  5. #5
    Join Date
    Jun 2007
    Posts
    33,681
    MNlady, I'm not understanding the term "secured" either.

  6. #6
    Join Date
    Aug 2003
    Location
    Mid-West
    Posts
    3,868
    The couple did not have a mortgage out on the home, and the notice, while including the couple's address, had a different name on it.

    Looks like too-big-to-fail-bank failed.

    These people did not have a mortgage!

    Bank was so eager to foreclose forget the silly little details like...is this the right property? No fraud involved? Address and name really match? And forget the lame excuse 'oh we outsourced it'. No bank is responsible for who they hire.

    I suppose upper management will get their multi-million dollar bonuses for a job well done.

    What I can't understand is who was paying the so called mortgage on a home paid off in someone else's name and who was the incompetent person who gave them a loan that was eventually foreclosed on?
    Last edited by Show Me; 09-07-2012 at 07:45 PM. Reason: forgot something
    -
    My opinion and nothing but my opinion.

    Tor:Con Index link below. Will show you the probability of a tornado happening in your area.
    http://www.weather.com/news/tornado-torcon-index

    FEMA's link for Emergency Supplies list below or what you need to survive for three days in case help is not immediately available to you.
    http://www.ready.gov/document/family-supply-list

    You can also purchase a weather radio which will inform you of severe weather even if your electricity goes out. Runs on batteries of course.

  7. #7
    Join Date
    Aug 2003
    Location
    Mid-West
    Posts
    3,868
    Quote Originally Posted by SuziQ View Post
    MNlady, I'm not understanding the term "secured" either.
    Well according to Wells Fargo SuziQ, 'secured' means doors were broken, windows were smashed and walls were torn down, valuables taken....you know the usual way ****s 'secure' something. Wells Fargo is totally responsible for whom they hired to do the job...no more passing the buck. If WF is upset with the 'securers' let WF sue the 'securers' for damages.

    I hope this couple sues the heck out of WF and gets a lot of money! I hope the boss loses his big bonus over this travesty.
    -
    My opinion and nothing but my opinion.

    Tor:Con Index link below. Will show you the probability of a tornado happening in your area.
    http://www.weather.com/news/tornado-torcon-index

    FEMA's link for Emergency Supplies list below or what you need to survive for three days in case help is not immediately available to you.
    http://www.ready.gov/document/family-supply-list

    You can also purchase a weather radio which will inform you of severe weather even if your electricity goes out. Runs on batteries of course.

  8. #8
    Join Date
    Sep 2008
    Posts
    378
    Speaking of banks....A bank in my state foreclosed on a business that sold pre-built homes. They sold one of the homes to some people I know to include delivery and set up--the couple's savings used for down payment and getting the land/foundation ready. FYI if you didn't know...these homes are split halves and delivered in 2 sections to be connected on delivery/set up. First half was delivered fine, second half was involved in an accident during the delivery and had a huge gaping hole in it. The bank seemed to not understand that their contract was now null and void and was refusing to give back the down payment~!! And nobody seemed to have insurance to cover it~!! The bank nor the transport. They were basically being told that they were SOL..too bad, so sad~!! My son and I (and maybe others) said "get an attorney and let him/her handle it." (they didn't want the added cost as savings gone so the lady was trying to handle it and was very stressed out) I don't know what exactly happened but they will be getting delivery of a NEW pre-built from another company this month~!!
    It just blew my mind that a bank would be so unscrupulous and underhanded.

  9. #9
    Join Date
    Aug 2003
    Location
    Mid-West
    Posts
    3,868
    Quote Originally Posted by MNlady View Post
    Speaking of banks....A bank in my state foreclosed on a business that sold pre-built homes. They sold one of the homes to some people I know to include delivery and set up--the couple's savings used for down payment and getting the land/foundation ready. FYI if you didn't know...these homes are split halves and delivered in 2 sections to be connected on delivery/set up. First half was delivered fine, second half was involved in an accident during the delivery and had a huge gaping hole in it. The bank seemed to not understand that their contract was now null and void and was refusing to give back the down payment~!! And nobody seemed to have insurance to cover it~!! The bank nor the transport. They were basically being told that they were SOL..too bad, so sad~!! My son and I (and maybe others) said "get an attorney and let him/her handle it." (they didn't want the added cost as savings gone so the lady was trying to handle it and was very stressed out) I don't know what exactly happened but they will be getting delivery of a NEW pre-built from another company this month~!!
    It just blew my mind that a bank would be so unscrupulous and underhanded.
    Which is absolutely amazing the bank didn't provide insurance on the home as our insurance company had to several times tell the big bank we got our mortgage from that we had plenty of home owners insurance through them and we did not want the overpriced bank provided insurance the bank was trying to make us pay. Finally the bank got the message.

    If you have a problem with your bank over a mortgage I urge you to file a complaint with the new Consumer Financial Protection Bureau. You will have someone on your side without paying a lawyer a lot of money to get your dispute resolved.

    http://www.consumerfinance.gov/
    -
    My opinion and nothing but my opinion.

    Tor:Con Index link below. Will show you the probability of a tornado happening in your area.
    http://www.weather.com/news/tornado-torcon-index

    FEMA's link for Emergency Supplies list below or what you need to survive for three days in case help is not immediately available to you.
    http://www.ready.gov/document/family-supply-list

    You can also purchase a weather radio which will inform you of severe weather even if your electricity goes out. Runs on batteries of course.



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