Bank Of America Threatens To Foreclose On Homeowner If He Doesn't Pay $0.00 ASAP

Bank Of America Threatens To Foreclose On Homeowner If He Doesn't Pay $0.00 ASAP

consumerist.com

Oh, Bank of America... will you never cease to amuse/amaze/horrify us? Yet another computer glitch from this year's Worst Company in America runner-up had one Massachusetts homeowner scratching his head when he received a foreclosure notice from BofA warning him that his property would end up in foreclosure if he didn't immediately pay the amount of $0.00.

"It says, you owe us zero dollars, zero cents. Was I going to write a check to them for zero dollars and have it clear? I couldn't help but laugh," he tells WWLP TV.

He says he tried contacting BofA to find out what was going on,

(visit the link for the full news article)

Facepalm.

Wow an accounting error? They were going to foreclose on the guy because of their mistake?

Typical. These institutionas are so big they really don't know what they are doing. Especially when the software messes up.

But at least you'd think they would respond a little faster about something like this.

Common sense?

consumerist.com
(visit the link for the full news article)

Reminds me of my income tax refund last year. They actually made a deposit of 0.00 into my account just to rub it in as a pleasant reminder I was not entitled to get anything back. As if the letter in the mail wasnt enough..

I think banks and financial institutions should have to apply to a court in order to perform a foreclosure, or even to begin proceedings to the point of being able to send a threatening letter. If court appointed persons were to go over the facts of these things, case by case it would A) mean that any foreclosure took SOO long, and was SOOO expensive that the banks would think nice and hard about it before making an approach, and B) that would mean that an external checking process would be enacted, filtering this sort of BS out , and preventing home owners from being terrorised by souless corperations and financial entities.

These banks clearly have no idea what the hell they are doing. It's set on autopilot and the minute a snag is hit, they scramble like chickens trying to figure out the problem. I always have said, they have no problem accepting your money, but the minute you need anything besides giving them money, they will make it so difficult and seem to have no idea what they are doing.

As I read this I just had to rethink whether posting was even worth it??? Banks are a disaster, and this is just another example of their complete confusion! I am just so sick of all this I just wish they would all collapse!!! I have never seen such a mess that cannot possibly be fixed without a complete start over!!!!!!!!!!!!! Every time I drive by a bank my stomach turns! Isn't that ridiculous?? They are destroying lives and loving every minute of it!! If there is a satan (and I believe there is) I would say he lives in these banks.

Originally posted by keepureye2thesky
It's set on autopilot and the minute a snag is hit, they scramble like chickens trying to figure out the problem. I always have said, they have no problem accepting your money, but the minute you need anything besides giving them money, they will make it so difficult and seem to have no idea what they are doing.

This is the problem. They are just too big. There is no actual person doing any of the communicating with their customers... only when the machines hit a snag... and then only as a last resort. It's horrible.

Unfortunately, he says the foreclosure notice hurt his credit score, even though it was for no money.

Machines hurting humans' lives....

Pull all of your money out of BoA!!

He owed less than a penny,probably 0.5 cent.What a deadbeat.Bank of America had the common decency not to round it up to a penny,therefore providing the customer unneccessary financial hardship.In light of the generosity,this person should cut a check for a penny and hand deliver it to the bank so they can replenish their financial reserves.

Bank of America is the worse bank there is. Everyone that has an account with them needs to switch banks ASAP. Bank of American needs to be dissloved. If people stop using Bank of America they will sooner or later go under and there is where they belong. Of all the banks they are the worse of all.

This saves word processing costs. There are so few mortgages paid off these days that the execs at BOA just didn't feel it necessary to purchase a rarely used "paid in full" form.

Stories like this hit the news initially. Bet if they don't do a follow up they would actually go through foreclosure anyway, and if he takes it to court chances are the judge will make him pay for all the legal. So this could still be a nightmare.

I had a negative experience with Bank of America once that prompted me never to do busines with them again. I won't embellish much but what I will say is this. Years ago at a previous residence they bought my loan from my mortgager. I was sent a new paybook and began to send notes to them. One day after 3-4 months of this I get a letter stating that I was delinquent on my notes for 3 months in a row. I had proof that I had sent them on time but they were arriving almost a month late each time according to the letter. So I was given a name and number to contact. When I spoke to the agent he proceded to tell me that my note may be arriving to the bank on time, however it wasn't crossing his desk until weeks and weeks later. Like it was my problem. I asked him why I was being penalized even if my note was making the bank on time. And then, he reminded me that he could foreclose on my mortgage at any time he wishes. He advised from here on out that I place each note to his attention, which I did. That was until I found a new mortgager to refinance my loan.

Needless to say I have repaired my credit way beyond necessary since that time and will not knowingly do business with them ever, nor will anyone I can appeal to either.

Sorry but I get this story out there every chance I get. I'm short on time at the moment but that agent was arrogant far beyond what I can express at the moment.

I personally can't afford to send the entire amount (obviously) but I'm willing to send a portion of the 0.00 to help the guy out.

I would have sent them a check for $0.00 and waited to see what happened. Of course I would have documented the whole thing and had copies of everything and with the exception of the physical check, I would have kept all the originals too. Then, a few days after I sent the check I would have contacted the local news channel's "investigative team" and told them about it, just in case.

How cool would it be to have THAT story to tell for the rest of your life. A bank was going to take away your house because you DIDN'T owe them anything, so you sent them NOTHING and then (maybe) got another letter later saying "thank you for not paying us, your account is settled." That would be an "Epic Win"... as the kids say....lol

--Apex

I was watching the community channel last night. One person got up to voice there concerns about closing a park and laying off city workers. They stated that the commission should go after the banks and the taxes that haven't been paid on foreclosed homes instead of cutting parks and jobs. I agree. I also agree with those that are Bank of America haters and I have no problem telling them so in person at the branch or on the phone. They could care less. But it makes me feel better to get it off my chest. Peace.

It's not just the BOA, the Dutch state is also like that. I supposedly have to pay taxes for one of my cars. They are already forcing me to pay via an injunction in name of the Dutch Queen although the car is freed of taxes because it's an old-timer. In the Netherlands cars older than 25 years are tax-free and the car is from 1978...
I'm waiting for them to show up.

all banks and creditors are like this nowadays, its just for some reason BOA is dumb or ballsy enough to continuely let thier laundry fly around the open media. the governments had made it clear, there is no recourse for the banks and thier actions.

Why on earth is ANYONE still doing business with BOA?

Seriously, 90% of the horror stories I hear about banks trace back to BOA.

If you can, PLEASE pull your accounts out of that atrocity into a security union or at least another bank. Starve it and let it die.

this is a computer error that happens from time to time. He will have to write a check for $0.00 and it will clear his account and then it will be fixed, unless he spends the time calling them to get a person with a bit of sense on the phone to fix it manually.

There was a guy, years ago, who was on one of the late night talk shows, possibly Carson (I said years ago) and this guy was there with his electric bill for $0.00, the termination notice, showing he owed $0.00 and the check he wrote to them, which cleared his bank (had the statement to go with it), showing the amount as $0.00.


computers are not human (yet) and they cannot be told that they made a mistake.

we see these kinds of things, from time to time, from the IRS and NYS. the client owes $0.00 and they intend to levy their accounts for it.

Just paid off my car last month. Paid in full and owe nothing to my credit union for it. Got a notice in the mail Friday.....you need to show proof of insurance or we will have to purchase insurance for you.

WTF!!! I paid it off! Than it says this is the second notice they have sent me. Um...no...it isn't. If that was the case, I think I would remember.


Not just BOA, but all banking institutions are making errors.

I'm steaming mad and have to wait until monday to address it.