Another erroneous foreclosure at Bank of America

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It's happened again. Bank of America (NYSE: BAC), by some measures the largest bank in the United States, has erroneously foreclosed (foreclosure news) on a house and then sold it right out from under the owners, who were up to date on their payments and the victims of another mistake.

We've noted a spate of such incidents around the country. The latest incident occurred in the metropolitan Atlanta area. Homeowner Rani Achaibar told a local FOX affiliate that she was shocked when a man showed up at her house claiming he had just purchased it. Unbeknownst to the Achaibars, their $500,000 home had been auctioned off at the county courthouse. Bank of America at least conceded that the Achaibars were up to date on their payments and that a mistake had been made. 

This is something that easily generates bad press locally. The home office perhaps ought to get involved, as it really undercuts the image of Bank of America as a competent institution. 

For more:
- here's the article

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Erroneous foreclosures a big problem?
What to do about mortgage holders who walk
Citi to suspend foreclosures: Happy Holidays
Banks walking away from foreclosures

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