Banks Accused of Illegally Looting Homes


Fresh from our "Why aren't the practices of banks better regulated" file, a woman has sued Bank of America, claiming that the bank wrongfully foreclosed on her home and looted her house in the process. Mimi Ash returned to her home and found that the locks had been changed. When she gained access to the house, she found that all of her belongings, including her furniture and her dead husband's ashes, were taken. She thought she had been burglarized but learned that the bank had wrongfully foreclosed on her home, looting her belongings in the process. In an era when millions of homes have received foreclosure notices nationwide, lawsuits detailing bank break-ins like the one at Ash's house keep surfacing. The "wrongful foreclosures" usually involve shoddy, sometimes illegal paperwork that reinforce consumer and legal claims that the foreclosure process is fundamentally flawed. Stealing someone's ashes?

We're still wondering why banks in this country are allowed to get away with so much illegal activity. If we broke into a bank, changed the locks and stole everything out of it, we would be in jail for an extremely long period of time. Why is the only recourse against the banks in civil court as opposed to criminal court? Once is a mistake. Multiple instances — those reported and unreported — are a pattern. When will banks be held to the same standards as the rest of us?

Read more at MSNBC.

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