Video: Bank of America forecloses on home with no mortgage - Update
Maria and Charlie Cardoso, who reside in Massachusetts, had been renting out the Spring Hill, Florida home they purchased in 2005 with cash. However, Bank of America, who had no connection to the property, took it anyway, ignoring complaints by the Cardoso’s that they had the wrong house.
The couple has filed a 1.5 million dollar lawsuit in Bristol County Massachusetts District Court, and is demanding a jury trail.
In comments left on an Examiner.com article,a man named David, who appears to be a representative of Bank of America said, “ There is no possible excuse for our mistake. It must never happen again. We will convene a panel of community members, civic leaders, B of A affiliated contractors, staff members and senior executives, and we will solve this problem. We are immediately and completely halting all home repossessions nationwide. We will not resume until the panel has drafted an effective prevention strategy and we have comprehensively implemented it. We will offer these ideas to all other financial institutions in the hopes that we can prevent other tragedies.”
“David” went on to apologize for the mistake. However, words may not compensate the Cardoso’s for BOA’s foreclosure error. In addition to the stress and expense of the improper seizure, the Cardoso’s family photos and other irreplaceable items that were confiscated during the eviction process have been lost and may never be recovered.
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Click here to read all of "David's" comments
photo above/AP
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