A Wilson County Tennessee Court stopped a Foreclosure by Bank of America today. Bank of America (represented by Shapiro and Kirsch), was attempting to foreclose in Tennessee on a Note they claimed was held by the Federal National Mortgage Association. The forelcosure was stopped by a Wilson County Judge. The home owner did not take out the loan with Bank of America. The Tennessee homeowner facing foreclosure took it out with Wilson Bank and Trust. After a few months of paying the original lender he began receiving threatening letters from Countywide (whom he did not know). The Tennessee homeowner was then offered a “trial loan modification” by Countrywide/Bank of America (who did not lend him any money). He paid the amount that Countrywide/Bank of America told him to pay (as he didn’t know better), and was later told that the “trial loan modification” was denied and that he was delinquent on his loan because the “trial loan modification” payments weren’t the full amount he was supposed to be paying.
The Tennessee homeowner was then placed in default on his home “mortgage” by Bank of America in Tennessee. Bank of America then asked the Tennessee homemowner to submit paperwork for a loan modification under HAMP (which Bank of America claimed they never got). Bank of America eventually asked him to send a huge $10,000 cashier’s check (the mortgage payments were only $800 to begin with) to catch up on payments (which he never missed). Bank of America (now claiming to act as Countrywide) accepted the payment but credited the payment to his principle and refused to bring him current on his loan and began foreclosure proceedings in Tennessee.
This is a temporary victory but a big victory in the overall fight against Wrongful Foreclosure’s in Tennessee against the Banks who are taking houses they don’t own. Attorney Jeff Barnes Esq. and myself acting as the local counsel on this case have been successful on our quest to fight Banks Foreclosing on homes in Tennessee.