Shared Reading: Florida Couple Forecloses on Bank

I never knew this was possible but you really need to root for the little guy that took on the greedy bank and won.

A few months ago a couple received documents claiming that the bank was foreclosing on their house. The couple fought the foreclosure but this one had an interesting twist. Not only did the couple NOT owe the bank any back payments on the house, they never had a mortgage in the first place because they bought the house with cash.

The case went to court and the homeowners were able to prove they didn't owe Bank of America anything on the house. In fact, it was proven that the couple never even had a mortgage bill to pay.

A Collier County Judge agreed and after the hearing, Bank of America was ordered, by the court to pay the legal fees of the homeowners', Maurenn Nyergers and her husband.

Five months after going to court, the bank had still not paid the couple so their lawyer took the next step. He seized the banks assets.

Gotta love a financial story where David slays Goliath. It's also a valuable lesson in keeping documents of everything. When the couple took the bank to court, they were armed with canceled checks and other paperwork documenting that they had paid for the house and therefore did not take out a mortgage.

Keep a copy of all your documents in two locations. This way if something happens you have a back-up set. Many people keep one at home and one at work.

Read the full article on Digtraid.