Friday, October 3, 2014

NO EVICTION FOR BANK OF AMERICA HOMEOWNERS SAMUEL AND COURTNEY ADAMSON

Photo of Bank of America ATM Machine by Brian ...
Photo of Bank of America ATM Machine by Brian Katt, Framingham Rest Stop, Massachusetts. (Photo credit: Wikipedia)

No Eviction for Couple Who Haven’t Paid Mortgage Since 2008

In December 2008, Samuel and Courtney Adamson stopped making mortgage payments on their Utah home and they are still living in the house.

The mortgage was owned by Bank of America who turned foreclosure proceedings over to a subsidiary of theirs called Recon Trust. In January 2010 Recon Trust sold the Adamson’s home in a foreclosure sale to another one of Bank of America’s subsidiaries.

The Adamson’s continued to attempt to negotiate a new mortgage with Bank of America and refused to vacate their home. The new subsidiary owner then transferred the title of the home to Distressed Asset Solutions Fund I, a company located in San Diego. Distressed then filed a lawsuit against the Admansons in their efforts to evict them.

The Adamson’s fought the eviction lawsuit by claiming that the original foreclosure sale had violated Utah state law that states that only a Utah attorney or company are allowed to legally carry out a foreclosure selling. Bank of America argued against the Adamson’s charge stating they and Recon Trust were legally operating under Texas state law.

The question of which state’s laws apply have been a grey area as courts have ruled both ways in recent years. A year ago, the Utah State Supreme Court ruled that Utah state laws apply in cases like this and not the laws of others states. Bank of America has been involved in some of these other cases in Utah and has already stated that they will appeal the Utah Supreme Court’s ruling to the US Supreme Court.

Bank of America’s case was further weakened this past week when Fifth District Court Judge Jeffrey Wilcox ruled that in the Adamson case, Bank of America and Recon Trust both violated Utah state laws in their foreclosure on the Adamsons. Since the foreclosure was ruled illegal, the eviction order that followed cannot be enforced.

No announcement has yet been issued if Judge Wilcox’s ruling will be appealed or not. In the meantime, the Adamsons, who have still not made a mortgage payment or property taxes in nearly 6 years, are being allowed to remain in their home.

Had the Adamsons not been familiar with the Utah laws governing foreclosures, they would have been gone a long time ago. If you have undergone a foreclosure or are in the process of being foreclosed on, check your state laws, especially if you live in Utah.

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    You are correct Linda.
    My daughter is dealing with this same situation. It has been 1 1/2 years & they are in this boat because the business went under , due in large part to obama's business killing agenda.
    BoA refuse to work with them & they have been in this home for 22 years.
    They do have an attorney & the payments are in an escrow account until BoA decides to play by the rules.
    • Avatar
      They haven't paid on their mortgage or property taxes for 6 years would have me believe that they would have accumulated quite a sum of money by now. Squatters! I have no empathy for those who lied about their incomes in order to buy a home far out of their price range. Evict the squatters, and take a large portion of their hoarded wealth.
        • Avatar
          Why would you assume they lied about their income .? 
          Frankly, I seriously doubt you would have empathy for anyone..
          My Granny always said this"But for the Grace of GOD there go I"
          I do believe Karma is a wonderous thing... It can kiss your face or kick your backside. All onto what one puts out. It does come back around you know.
          Without knowing these folks' circumstances, one should maybe not be quite so quick to judge.
          • Avatar
            Typical behavior by career Obama moochers. They spend more time at scamming the system than they do getting a job. Just anotrher reason to get rid of Democrats in November who condone this type of behavior.
              • Avatar
                Normally I never side with a deadbeat but Bank of America has gone to war with weapons manufacturers and tried to dry up their credit and run them out of business therefore I hope many many more people screw BOA out of more money.
                  • Avatar
                    Bank of America was one of the leaders in giving mortgages to criminal aliens without Social Security numbers. I'll bet you can't get a loan from them without a Social Security number. Bank of America is also on the cutting edge of firing Americans only to replace them with Indians. And before any fool says I am insulting Native Americans I am referring to people from India coming on H1 visas which Bill Gates, the US Chamber of Commerce, Business Roundtable and every other crony capitalist supports so they can cut labor costs.
                    • Avatar
                      I take it you don't hold any BOA stock.......If you or "daddy and mommy" are retired, and have money in a retirement fund, you may want to rethink...hurting ANY Corp. is not to good for the economy. and it's the Government that is "intimidating" the banks in to going after the "weapons manufactures (and others)" Called operation choke point. Get your facts straight, before trying to ruin my retirement.
                        • Avatar
                          Agreed. With one caveat.
                          After the collapse banks were bailed out and put into position where they could repay the gov't. All fine and dandy, except they are still able to leverage their assets as they did before the crash - so we are getting set up for another crisis. Goldman is leveraged 540 - 1 right now.
                          Hold on to your hats.
                        • Read more at http://godfatherpolitics.com/17350/eviction-couple-havent-paid-mortgage-since-2008/#jc6vvxW5mPCabr0Y.99

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