This one makes our heads hurt!
In some crazy, bizarre and just plain weird news - Bank of America has reportedly sued itself for foreclosure 11 times since late March.
In one case BofA seeks to foreclose on a condominium, but lists BofA as the defendants in the suit.
In other words… They're suing themselves!!!
A BofA rep responded:
"We are servicing the first mortgage on behalf of an investor and we own the second mortgage. Naming the second-lien holder in the suit is necessary to eliminate the junior interest.”
Oh, well when you put it that way…
No that does not make sense!
How can a company sue itself???
We feel like we’re in some Inception movie or something…
Many analysts believe examples such as these highlight what is so wrong with “roto-signing” today. Employees who work at big banks deal with so much paperwork nowadays that they don’t even notice these issues before sending them to court.
BofA vs. BofA. Who would’ve thought???
[Image via WENN.]
Tags: bank of america, big banks, foreclosure, legal, mortgage, roto, signing, sue, sues, suing