Pot, Meet Kettle | Bank of America Sues HOA’s, Trustees and Collection Agencies Over Foreclosure Fees

Bank of America Suing Collection Agencies in Foreclosure Mess

The mortgage serving unit of Bank of America this week filed a lawsuit in Nevada against dozens of homeowners’ associations, their trustees, and collection agencies over fees the groups charged to B of A after certain homes went into foreclosure.

BAC Home Loans Servicing LP filed suit Jan. 31 in U.S. District Court in Las Vegas, charging the HOAs and their trustees are wrongly demanding BAC pay fees and collection costs it’s not obligated to pay. BAC’s lawsuit notes liens HOAs can file against properties for unpaid HOA assessments are limited under Nevada law to nine months of assessments.

“BAC services hundreds of residential loans secured by properties that are subject to these homeowners’ association liens. To maintain clear and marketable title to these properties, BAC has tendered payments to the trustees of many homeowners’ associations that, if accepted, would fully satisfy their super-priority liens. But the trustees of many homeowners associations are rejecting these payments based on erroneous interpretations of the law as they insist on accepting only payments that include the disputed collection costs,” the lawsuit said.

Continue reading here…



3 Responses to “Pot, Meet Kettle | Bank of America Sues HOA’s, Trustees and Collection Agencies Over Foreclosure Fees”
  1. l vent says:

    I have seen this Homeowner’s Ass. fraud first hand and it is very SHADY and DECEPTIVE. WELLS FARGO posing as the HOA had my brother-in-law EVICTED FROM HIS HOME because he was behind on HOA DUES but he was not behind on his MORTGAGE!! They “tricked ” him into thinking that he lost his home and forced him into foreclosure by deception. WELLS FARGO WAS BEHIND THIS THOUGH THEY — USED THE HOA AS THE SCAPEGOAT. The American people are sick of all of the charades by the cabal. President Obama needs to put a stop to all of the nonsense. The Origination Fraud and the FRAUDULENT INDUCEMENT OF OUR LOANS is the reason WHY the banks cannot FRAUDCLOSE and then, the banks never followed the STRICT RECORDATION LAWS that the STATES REQUIRE. or their own PSA agreement which is a legal contract. Not even including all of the SECURITIES FRAUD, DECEPTIVE PRACTICES AKA THE RICO ACT, FORGERIES and ROBOSIGNING of our signatures and other FRAUDULENT DOCUMENTS they CREATED to try and LEGITIMIZE THEIR CRIMES in trying to FRAUDCLOSE. Then MERS just compounded the problem for the banks. They thought MERS would create a grand cover for the criminals and all of THEIR FRAUD, but instead it forced the criminals to either come forward or lose to the homeowner’s. Truth is the FACTS DO NOT LIE. The banks are blatantly flouting people’s property rights and Constitutional Rights as well as CLEARLY BREAKING THE LAW by FRAUDCLOSURE, yet no one has come forward to stop them except for a few honest judges and the grace of god. The banks are not the head of the snake, not by far, so some honesty please, though I doubt that anyone of them would be capable of that. Then at least a NATIONWIDE MORATORIUM ON ALL FORECLOSURES. OUR HOMES ARE PAID FOR.

  2. Maria says:

    Any way, WHEN the EVIL FIGHT an EVIL – WE WIN!

Leave a Reply