A Salute To Stubbornness
There’s a lot to be said for stubbornness. The Teller writes a sparsely read column every week, stubbornly refusing to listen when higher-ups tell us we’re unfunny and taking up space that could be used for, you know, news.
But recently, Bank of America took stubbornness to glorious new levels. In their apparent zeal to foreclose on yet another home in the eminently-forecloseable state of Florida, the country’s largest bank actually went so far as to foreclose on the wrong home.
The home in question, in the sleepy retirement community of Spring Hill, was purchased in 2005 by local couple Charlie and Maria Cardoso of New Bedford as their retirement home.
In what should have been BofA’s first sign something was amiss, the couple didn’t have a mortgage from the bank on the property. In fact, the Cardosos didn’t have a mortgage at all – Charlie sunk his life savings into the three-bedroom pool property, paying the entire $139,000 purchase price in cash.
Tough to foreclose on a home when A.) the mortgage doesn’t belong to you in the first place; and B.) there is, in fact, no mortgage at all.
Turns out the home Bank of America meant to foreclose upon was about 10 doors down from the Cardoso estate. The wrong address was unfortunately supplied on foreclosure documents, according to reports.
The megabank’s own real estate agent also tried to get BofA to back off, but stubbornness, as is often the case, would not be denied.
In fact, the stubbornness, and persistence, only grew – the St. Petersburg Times reported that three months after initiating foreclosure on the incorrect Cardoso property, the bank also foreclosed on the property down the street that originally started the mess.
Stubbornness begets a two for one, buy one get one deal! Alright!
The New Bedford couple alleges that in their zeal to foreclose, BofA broke a fence on their property, removed their belongings from the home and changed locks without permission, despite repeated pleas that it was all a misunderstanding. The water and electricity had been turned off, and pipes had frozen, causing further property damage.
The Cardosos are seeking unspecified damages from Bank of America. The company showed negligence, trespassed and caused the couple emotional distress and financial hardship, especially because a tenant renting the home at the time got worried and left, according to the complaint. It’s unclear if the couple’s credit rating has been affected, according to the St. Petersburg Times.
In a statement e-mailed to the local paper, the sultans of stubborn said only:
"We have reached out to the Cardosos’ representatives and hope to have the opportunity to work with them to properly assess and address their allegations. We are reviewing the allegations in the lawsuit, the actual events that led to them and the causes of those events, and will consider any hardship that resulted."
Like we said, there’s something to be said for being stubborn as a mule. But in this case, BofA pretty much just ends up looking like a plain old ass.
