[Homeslice]

Originally Posted by Captain Morgan

For the most part, I side with the banks on this one about foreclosures. However, a friend of my parents was foreclosed on recently by B of A. The story, as he tells it (I'm sure there's more to it), is that B of A bought his mortgage from another bank. In the process, he had mailed a payment to the previous bank. He states he's paid every month, but B of A claims the last payment that went to the old bank should have gone to them. B of A told him he would have to pay them and try to get his original payment back from the other bank. In the midst of the fight (about 1.5 months into it), B of A foreclosed. Technically, the guy was never behind and had been making every payment. There was just confusion over one of the payments because it went to the old bank. That's his story, anyway. Will probably never know the whole story.

They foreclosed after only 1.5 months? That makes absolutely no sense. It's rare to find ANY bank that forecloses within the first 6 months after the borrower stops paying.