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In A Sign Of Foreclosure Flaws, Suits Claim Break-Ins By Banks U. S.

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http://www.nytimes.com/2010/12/22/business/22lockout.html?ref=business

TRUCKEE, Calif. — When Mimi Ash arrived at her mountain chalet here for a weekend ski trip, she discovered that someone had broken into the home and changed the locks.

When she finally got into the house, it was empty. All of her possessions were gone: furniture, her son’s ski medals, winter clothes and family photos. Also missing was a wooden box, its top inscribed with the words “Together Forever,” that contained the ashes of her late husband, Robert.

The culprit, Ms. Ash soon learned, was not a burglar but her bank. According to a federal lawsuit filed in October by Ms. Ash, Bank of America had wrongfully foreclosed on her house and thrown out her belongings, without alerting Ms. Ash beforehand.

In an era when millions of homes have received foreclosure notices nationwide, lawsuits detailing bank break-ins like the one at Ms. Ash’s house keep surfacing. And in the wake of the scandal involving shoddy, sometimes illegal paperwork that has buffeted the nation’s biggest banks in recent months, critics say these situations reinforce their claims that the foreclosure process is fundamentally flawed.

“Every day, smaller wrongs happen to people trying to save their homes: being charged the wrong amount of money, being wrongly denied a loan modification, being asked to hand over documents four or five times,” said Ira Rheingold, executive director of the National Association of Consumer Advocates.

Identifying the number of homeowners who were locked out illegally is difficult. But banks and their representatives insist that situations like Ms. Ash’s represent just a tiny percentage of foreclosures.

Many of the incidents that have become public appear to have been caused by confusion over whether a house is abandoned, in which case a bank may have the right to break in and make sure the property is secure.

Some of the cases appear to be mistakes involving homeowners who were up to date on their mortgage — or had paid off their home — but who still became targets of a bank.

:lol::lol: Excellent so if a bank thinks a property might not be secure it has to break in to it to ensure that it is secure. Genius, surely if they "have to break in" the property clearly is secure?

So the bankers have moved on now to burglary to increase profits and get the bonus.

Still at least we can all be assured no banker will ever be jailed for this. Any normal person breaks into a house and they'll go to jail, if your a banker well you'll just get to pay a fine and carry on.

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Still at least we can all be assured no banker will ever be jailed for this. Any normal person breaks into a house and they'll go to jail, if your a banker well you'll just get to pay a fine and carry on.

Not like it never happens over here. A weighty fine or compensation is adequate for mistakes made.

http://www.thisismoney.co.uk/mortgages-and-homes/article.html?in_article_id=467809&in_page_id=8

http://menmedia.co.uk/manchestereveningnews/news/s/1125411_bailiffs_in_repossession_blunder?page_size=25

http://www.thisisstaffordshire.co.uk/news/Dad-left-rain-baby-repossession-mix/article-622541-detail/article.html

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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