Owners Lose Possessions After Home Is Mistakenly Foreclosed - Page 3

Owners Lose Possessions After Home Is Mistakenly Foreclosed

This is a discussion on Owners Lose Possessions After Home Is Mistakenly Foreclosed within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Originally Posted by ccw9mm Didn't have a mortgage, and a bank takes their home and possessions. When all's said and done, I'm betting they'll have ...

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Thread: Owners Lose Possessions After Home Is Mistakenly Foreclosed

  1. #31
    Ex Member Array Adrenaline's Avatar
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    Quote Originally Posted by ccw9mm View Post
    Didn't have a mortgage, and a bank takes their home and possessions. When all's said and done, I'm betting they'll have leveraged their attorney's time to good effect. $100M, with half going to the community and half to the family, for the sheer effrontery of having done it. A few instances of this, and they'll begin to take more care to ensure there isn't a repeat. Without it, I'm sure it'll continue and be swept under the rug.

    As for criminality, seems to me that it cannot be lawful for a bank to be doing such a thing without the specific physical involvement and presence of law enforcement ... for reasons of avoiding exactly this sort of thievery.
    Doubtful they would hire an attorney out of pocket. On contingency it's about 35% of the take on average. Also doubtful they would receive $100M in any settlement or jury trial.

    I think the best possible outcome is most likely to be compensatory damages of $1M x 3 (for treble damages if they apply) with the attorney getting 35% of the take. (And that's if the attorney does not take his expenses off the top of the settlement).


  2. #32
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    Quote Originally Posted by noway2 View Post
    From the article:

    Welcome to AmeriKa! Land of the corporation and home of the corrupt.
    In no way should a private company be allowed this type of authority. In my opinion, the only way to right this wrong includes the summary execution of those responsible, in addition to gobs of money to where it is extremely painful to the bank.
    May you be summarilly executed for your next mistake.
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  3. #33
    Member Array tricolordad's Avatar
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    It looks to me like the bank knew exactly what they were doing. as they are insured, im sure some clause will cover it and theyll quietly slide the money under a matress while their lawyers sue the insurance company for it

  4. #34
    Ex Member Array F350's Avatar
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    Quote Originally Posted by Adrenaline View Post
    Doubtful they would hire an attorney out of pocket. On contingency it's about 35% of the take on average. Also doubtful they would receive $100M in any settlement or jury trial.

    I think the best possible outcome is most likely to be compensatory damages of $1M x 3 (for treble damages if they apply) with the attorney getting 35% of the take. (And that's if the attorney does not take his expenses off the top of the settlement).
    Wife is suing her former employer for breach of contract; any attorney worth his fees is going to to file for legal expenses. We paying out of pocket and are in it about $15k, asked compensatory damages is low 7 figures X2 punitive plus all legal expenses.

  5. #35
    Ex Member Array Toorop's Avatar
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    Quote Originally Posted by Sig35seven View Post
    They won't. Wells Fargo will negotiate a deal that will give these people as little as they possibly can.
    That is just good business.

  6. #36
    Ex Member Array Adrenaline's Avatar
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    Quote Originally Posted by F350 View Post
    Wife is suing her former employer for breach of contract; any attorney worth his fees is going to to file for legal expenses. We paying out of pocket and are in it about $15k, asked compensatory damages is low 7 figures X2 punitive plus all legal expenses.
    What you ask for and what you get are two entirely separate things. Attorney fees in most states are not recoverable unless it is called for in a contract between the parties. I suspect your wife's contract calls for it. Otherwise each party pays its own attorney fees (costs are often recoverable, costs being copying, mailing, and the like).

  7. #37
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    Wells Fargo has done this very thing many many times, have been fined 100's of millions of dollars for thier business practices specifically in "foreclosures"...with-in the current Facist business model I see no change...all the regulatory "consent decrees" not-withstanding (read OCC,SEC)...What do you think a life-time of family pictures and momentos is worth ??...This will not change until local law steps in and demands complience...national policy is to pretend these big Facist fraudulently insolvent..criminal, cant fail, or be regulated banks.... can do nothing wrong, and are beyond the common law..

  8. #38
    Ex Member Array F350's Avatar
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    Quote Originally Posted by Adrenaline View Post
    What you ask for and what you get are two entirely separate things. Attorney fees in most states are not recoverable unless it is called for in a contract between the parties. I suspect your wife's contract calls for it. Otherwise each party pays its own attorney fees (costs are often recoverable, costs being copying, mailing, and the like).
    We are well aware of that; it is like haggling with Rick Harrison on "Pawn Stars" neither party starts out where they figure on ending up; legal expenses are allowed in state law.

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